It's Friday, so that means it's time for The Bliss Index Weekly News Wrap©...
While Rome burned, Nero fiddled: Today, Gov. Arnold Schwarzenegger released what his own staff said was a devastating budget proposal. Meanwhile, the de facto leader of the state’s self-proclaimed party “of the little guy,” state Assembly Speaker John A. Pérez, was hobnobbing with lobbyists and campaign contributors in the wealthy California enclave of Pebble Beach. Pérez (D-Los Angeles) is hosting the annual Speaker's Cup, the state Democratic Party's biggest fundraiser of the year. Well-heeled interest groups have been asked to contribute $60,000 for two days of golf, four hotel rooms, two evenings of dinner and access to one of the most powerful people in the state Legislature.”
Hasta la vista, budget...
How’s this for (yet another) wake-up call in California? – The state’s massive/powerful public employee pension fund, CalPERS, is considering a “$600 million hike in what California pays next year to cover state worker pensions.” If you ever wanted to visit Greece, hold off a bit – California’s almost there…
Speaking of California: The Golden State's Very Own checks in from the No, Duh Dept.: “Nancy Pelosi (D-Soon-to-be-Former Speaker): No question that voters are in an 'anti-incumbent' mood.” Gee, ya think?
California - in the thick of things...
How’s this for (yet another) wake-up call in California? – The state’s massive/powerful public employee pension fund, CalPERS, is considering a “$600 million hike in what California pays next year to cover state worker pensions.” If you ever wanted to visit Greece, hold off a bit – California’s almost there…
Add California's "justice" system to the list of failures: This wasn’t just a failure of the system. This is the ongoing breakdown of our society. That an “animal” like this – after being convicted of attacking at least one young girl – would be allowed to walk free defies explanation. His head isn't the only one that sjould roll (literally)…
And now, moving outside California...
It’s about time: “Congress Reins in Travel Perks - House leaders are revamping the rules for lawmakers and aides who travel overseas, forbidding them to fly in business class on shorter trips, use taxpayer funds to buy gifts or pocket unspent cash.”
Attention Arizona: Another reactionary boycott bites the dust…
The old saying goes like this: “If you lose your job, it’s a recession. If I lose my job, it’s a depression.” So how should an updated saying go, considering that reports show “millions of jobs that were cut won’t likely return?”
The good housing news: Foreclosures Down 2 Percent from Last Year. The bad housing news: it’s because they’ve foreclosed on so many homes that there are fewer to take these days…
Color me (not) shocked: “The Health Care Reform Already Costs More Than We Thought It Would.” In case you haven’t heard, “the Congressional Budget Office just reported that the health care reform bill was slated to cost $115 billion more than they said it would.” Seriously – did anyone not see this coming? And, even more seriously, does anyone not see what’s to come? If you think $115 billion (yes, with a “B”) in extra spending is bad now, what do you think it’s going to be like once this is institutionalized/becomes a “third rail” item that is sacrosanct?
This is going to be a tough, tough (did I say, “tough?”…I meant, TOUGH!) cycle for incumbents – particularly those in the Democratic Party. This headline says it all: “Obama’s job approval sinking in battleground states.” In numerous races last election, Democratic candidates rode to victory on pro-Obama/anti-Bush coattails. Friends, those coattails are gone. With unemployment at close to 10 percent nationally (nearly 13 percent in key states like California), the EU in a fiscal tailspin, Afghanistan lingering on, ObamaCare® in the wings, Cap and Trade™ being proffered…things aren’t looking good for the majority party. The shine is off the apple and unless the economy makes a quick and dramatic turnaround, Mr. Obama will be Mr. One-Termer…
At least this guy saw/sees it coming: My good friend, colleague and bon vivant, Tunku Varadarajan, interviews “Dr. Doom” (the guy who predicted this, The Great Recession) for The Daily Beast. Wanna know how the story will turn out? Follow this guy…well, both guys...
Finally, I’ll end this with a great bit of news: “No pay raise for Congress in 2011!”
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