What’s interesting in the news today?

First up, the fuzzy math continues.

From CNSNews  “The Treasury Department’s latest official daily accounting of the  U.S. government’s receipts, expenditures and borrowings–released this  afternoon at 4:00 p.m.–indicates that the legally limited debt of the  federal government has now been exactly $16,699,396,000,000 for 100  straight days.

The Daily Treasury Statement released today showed the status of the  government’s accounts as of the close of business on Friday, Aug. 23.  Because the Treasury does no business over the weekend, the federal  government’s debt did not change on Saturday or Sunday.

The statement for Aug. 23 said the federal debt subject to the legal  limit set by Congress was $16,699,396,000,000—or $25 million below the  current limit of $16,699,421,000,000. Every Daily Treasury Statement  since May 17 has also shown the legally limited debt at  $16,699,396,000,000, or $25 million below the limit.”

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I’m sure all the young folks who voted for the president will be happy to hear this.

From Forbes  “No, Obamacare Is Not A Good Deal For Young People In The Long Run, Not Even Close”

“Progressives are becoming increasingly concerned at the prospect of millions of uninsured young people deciding to push the easy button next year by simply paying a very small finerather than obtain health coverage. Consequently, they have turned to a new argument to get those under 30 to act against their self interest by signing up for the Exchanges. Now we are being told that Obamacare will be a good deal for young people in the long run since whatever short-term losses they incur in the form of higher premiums will be more than made up later when they are older and get to pay lower premiums than they would in today’s market.

But those making these arguments haven’t offered any analysis to back up their claims. The conceptual point evidently is supposed to be intuitively obvious. As Ezra Klein puts it:

Young people grow old. Healthy people get sick. Rich people become poor. The people overpaying to keep costs low today are the people underpaying 10 or 20 years from now.”

Pay more now, less later. Got it.

That’s good, because they’ll still be paying their student loans back 20 years from now too, so they’ll need the extra cash. 🙄

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Isn’t it nice when govt rewards it’s own incompetence?

From TheWaPo  “While veterans waited longer than ever in recent years for their wartime disability compensation, the Department of Veterans Affairs gave its workers millions of dollars in bonuses for “excellent” performances that effectively encouraged them to avoid claims that needed extra work to document veterans’ injuries, a News21 investigation has found.

In 2011, a year in which the claims backlog ballooned by 155 percent, more than two-thirds of claims processors shared $5.5 million in bonuses, according to salary data from the Office of Personnel Management.”

“Beth McCoy, the assistant deputy undersecretary for field operations for the Veterans Benefits Administration (VBA), said bonuses for claims processors were justified because, even though the number of backlogged claims was rising, workers were processing more claims than ever.”

“But News21 found that regional office management gave bonuses to some employees even as their claims backlogs grew. During 2012, Office of Personnel Management records show some of the most troubled offices gave their employees the most extra pay.”

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This one? Yes please. 🙂

From TheNYTimes  ” Some of the early shots in the Republican primary battle against Senator Lindsey Graham have been fired from this tiny community on the northern border of the state where the Civil War began.

A small group called Carolina Conservatives United, one of dozens organized loosely under the flag of limited government, low taxes and strict adherence to the Constitution, sent out images last week of a milk carton bearing Mr. Graham’s face and asked Gov. Nikki R. Haley to issue the state’s version of an Amber Alert to find its missing senator.       

“Lindsey Graham has not been seen in the state of South Carolina for most of the last two years,” said Bruce Carroll, the chairman of the group.       

Conservatives in South Carolina are eager to oust Mr. Graham, who has enraged the far right for, among other things, reaching across the aisle on immigration and supporting President Obama’s nominations for the Supreme Court. Tea Party supporters called him a community organizer for the Muslim Brotherhood when, instead of heading home for the Congressional break this month, he went to Egypt at the request of the president.”

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And this last one I’m unsure on. I can see their point, but at the same time they shouldn’t be allowed to simply get out of it completely either. They have a certain obligation and responsibility here that cannot be denied or shirked. But one thing I am sure of is that they need to reform the way they currently do things. This works for no one.

From Bloomberg  “Ari Schochet has grown so accustomed to being sent to jail for missing alimony payments that he goes into a routine.”

“Schochet, who said he worked as a portfolio manager at Citadel Investment Group Inc. and Fortress Investment Group LLC (FIG) and once earned $1 million a year, has been jailed for missing court-ordered payments at least eight times in the past two years as he coped with the end of his 17-year marriage.

The reason he ran afoul of the law was simple. He was out of work for most of that time, a victim of a weak economy, and he ran through his savings trying to pay his wife alimony and child support that totaled almost $100,000 a year.”

“Schochet and ex-spouses in similar changed circumstances say New Jersey’s law unfairly imposes lifetime alimony on them. If they fail to make payments, like the $78,000 a year Schochet owes his ex-wife in alimony, they can be jailed for contempt of court regardless of whether they have a job or resources.”

Thoughts?

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