Monday, October 15, 2012

Current Events - October 15, 2012

22 Days



Axelrod won’t specify if Obama held national-security meeting after Benghazi attack

Fox News’ Chris Wallace asks the question everyone except the media has been asking since the terrorist attack on our Benghazi consulate and the assassination of our Ambassador by al-Qaeda and/or its affiliates in eastern Libya.  

WALLACE: How soon after the attack did the President meet with the National Security Council, with people from state, with people from the…, the Director of National Intelligence, with all of the various people to try to sort out what happened in Benghazi?
AXELROD: Look. We are sorting out what happened there. Understand that the President the day after the attack called it an act of terror and charged everyone with responsibility for getting to the bottom of what happened.

That wasn’t the question, though.  The question wasn’t whether Obama gave an order; it’s whether he bothered to make time to find out what happened.  Wallace tries again:

WALLACE: Yes, the president made a statement and then he went to a fundraiser in Nevada. Question: Before he went to the fundraiser in Nevada, did he meet with his National Security Council to try to sort out the shifting stories. Because State says they never said it was a spontaneous demonstration; Intel, you are quite right, did. Did he meet with the National Security Council before he went campaigning in Nevada?
AXELROD. Chris, I assure you that the president was in contact with all those who had information and responsibility in the national security chain about this incident.

It still doesn’t answer the question — at least not directly.  However, if the answer was “yes,” I’m pretty sure Axelrod wouldn’t have been tap-dancing around the question, which leads to the obvious conclusion that the President didn’t bother to hold a meeting to find out what happened, after the first successful terrorist attack on an American diplomatic mission in 14 years.

http://hotair.com/archives/2012/10/15/video-axelrod-wont-specify-if-obama-held-national-security-meeting-after-benghazi-attack/

Study shows $1.2 trillion gap for public pensions

The largest 100 public pension funds have around $1.2 trillion of unfunded liabilities, about $300 billion above the nearly $900 billion they reported themselves, according to a new actuarial study to be released on Monday.

With the study, Milliman, stepped into the debate about whether public pensions are underreporting the size of their liabilities. That hot-button issue revolves around how much money public employers - and, by extension, taxpayers - will have to contribute to cover future payouts for member benefits. It is a key issue at a time of dwindling revenues and tighter budgets for states and local governments.

The difference has prompted critics to claim that the funds are underreporting their unfunded liabilities, or the gap between what they've promised to pay retirees in the future and what they'll actually have on hand to cover the benefits.

Critics have called for public pensions to reduce their assumed rates of return to as little as 5 percent or less, which would cause unfunded liabilities to soar and likely leave taxpayers having to cover the difference. But without the change, critics say, future generations will be left to deal with a financial bomb.


Another green-stimulus recipient lays off workers

Danish wind turbine maker Vestas said the impending expiry of a U.S. tax credit had exacerbated a fall in orders for next year, forcing it to make more than 800 job cuts in the United States and Canada so far this year.

With the Production Tax Credit (PTC) on renewable energy set to expire at the end of the year, Vestas Wind Systems A/S had previously said it could be forced to lay off a total of 1,600 employees in North America if the scheme is not renewed.

Vestas, which is battling the effects of government austerity measures in various countries, said the 800 staff cuts so far this year represented 20 percent of its North American workforce.

The kicker being that Vestas was the recipient of $50 million in tax credits, and Department of Energy Secretary Steven Chu hailed the company as yet another poster child of green job progress back in 2010



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