Hard hitting global and local news
Tweet My two activities this weekend were to listen to the podcast of Grover Norquist speaking to the Commonwealth Club  and attending the annual California Democratic Party convention in Sacramento. Norquist played up the libertarian angle, probably a smart move when a conservative addresses a liberal crowd.
The Huffington Post describes the setup in Stockton Pensions Present Problem In Bankruptcy At the conclusion of a three-day trial, a judge on Monday formally granted the city Chapter 9 protection, over the objections of creditors who questioned whether it was fair for the city to fully meet its obligations to the state pension system while other debt holders go partly paid.
Regardless of Insurance, Taxpayers Pay Reader Chris writes Hey Mish, I have been discussing disability for quite some time with others. I know a few people on disability who should not be qualified.
This one was new to me : Fresh off a wave of success in the state Capitol last year, animal welfare groups are taking aim at a new target this year: hunting with lead ammunition. The Humane Society, Audubon California and Defenders of Wildlife are behind a major push to make California the first state to ban lead ammunition for all types of hunting…. ….environmentalists say a statewide ban is needed because overwhelming scientific evidence shows condors, bald eagles and other birds are still dying from lead poisoning when they eat dead deer and other animals shot by hunters…. “These people want to ban hunting
California cap-trade passes second test better than first California’s cap-and-trade passed, barely, its first test last fall with an auction price that just barely exceeded the $10/ton minimum price. The second auction of carbon allowances last week went better, with all carbon allowances selling at $13.62/ton , right in the middle of the expected range of $11-15/ton. The amount of carbon allowances released for auction isn’t so big that regulated buyers figured they only needed to pay the minimal amount because it would only take minimal effort to comply with or buy allowances later, nor was it so little that buyers were forced to pay top dollar and would then come screaming that the political system is demanding more change than is economically feasible. Coming in at another $3/ton also means more money available to fund the other important parts of California’s climate mitigation plan. Finally, half the 2016 allowances were sold, which is fine – the market has another way to satisfy the same demand by selling them as futures . So far, the California system seems to be doing a lot better than Europe’s. Probably not a huge surprise – we got to see what didn’t work.
The Bureau of Economic Analysis report on Personal Income and Outlays for January shows a 4% decline in real disposable income (the biggest decline in 20 years) following sharp gains in December.
See more here: Did Obama Tax the US Into Recession?
Visit site: Bankrupt San Bernardino Hires Twice Bankrupt Manager for Annual Salary of $222,000
Taken from: Obama’s Infrastructure Mania; Why It’s Not Justifiable (And What To Do About It)