California's state and local governments are going broke. Public employees unions have demanded compensation and pension plans that are unsustainable. Politicians have shown incredibly little courage in confronting a very real collapse of confidence in the governments of California.
Americans remember today the suicide attack by al-Qaeda terrorists on the USS Cole in the Yemeni port of Aden, on October 12, 2000. The bombers sailed a small boat near the destroyer and detonated explosive charges, opening a hole in the port side of the ship 60 by 40 feet in diameter. The blast killed 17 crew members and injured 39.
Scranton, Pennsylvania, the hometown of Vice President Joe Biden, has become the hometown of the latest ObamaCare controversy. Jeffrey Lord, writing for the American Spectator, reports that the impending closure of three Catholic hospitals in the Scranton area, almost certainly in part because of the new healthcare legislation, is threatening to become a major public-relations debacle for the Obama administration and a major drag on the electoral prospects for three Democratic congressional candidates.
Of the variety of issues plaguing America�s economy today, unfunded public pensions are perhaps one of the greatest. CNBC News reports that a study expected to be released today shows major American cities may be faced with a $574 billion funding gap as a resulted of unfunded public pensions.
A YouTube ad that has generated a lot of attention in the major news media accuses the U.S. Chamber of conspiring with GOP operatives Karl Rove, former political adviser to President George W. Bush, and former Republican National Chairman Ed Gillespie for the purpose of "Stealing Democracy."