Bad Editors

Where in this article Pension-reform idea a tough sell does it say anything about pensions? It doesn't say a damn thing about pensions, it is talking about reforming Social Security. An ignorant or politically biased editor wrote that headline and totally messed up its meaning. I read the headline, and then saw Rep. Portman's picture and believed I was going to read an article about how Portman was going to introduce new legislation about reforming Pension and 401(k) Plans. He has done that in the past and I actually like several elements of the law, especially the improvement to the vesting schedule requirements the legislation placed on corporations.

No, this is about Portman shilling for Bush's phase out plan for Social Security. SS is not a pension plan. Now, if were in England, the term "pension" has different meanings and here in America professionals like myself use the term pension plan to refer to traditional defined benefit plans, not 401(K) or profit sharing defined contribution plans. We most certainly do not consider Social Security to be a pension plan.

I fear the editor at fault here is most likely ignorant about the interworkings of Social Security and Pensions and how the terminologies differ. Where a bias claim can have an appearance is that use of the term "pension" is one of Bush's phase out Plan points. He is trying to make people think Social Security is just like their 401(k) Plans, when it is not. No matter what you may think about Bush's plan, you must understand that he wants to transform Social Security into something vastly different than it is today. SSA is closer to a defined benefit plan in its structure; it is more of an annuity plan, than a pension plan. Those plans put little risk on the participant/beneficiary. Bush wants a defined contribution plan, where the participant/beneficiary bears all of the risk. When he does not say this up front, he is being dishonest, something akin to a snake oil salesman.

Sick and Tired

I am sick and tired. No, really, I am sick and tired. I have a cold and I am ready to sleep.

I failed to mention the death of Hunter S. Thompson, what I can point you to is the movie Where the Buffalo Roam a semi-biographical movie about Thompson. It stars Bill Murray who was born to play Hunter S. Thompson. Murray should reprise the role in any future bio-pic.

Make that Two From UC

Andrew Warner, a 3rd Year UC student, has announced his candidacy for Cincinnati City Council. Warner is a Green Pary member and has a website. He has little chance, but at least can pay his political dues.

No More E-Check in Hamilton Co. ?

What are the odds of E-Check going bye-bye?

SCOTUS Hearing Eminent Domain Case

How will the Supreme Court rule on Eminent Domain, where it enacted for private development, not public projects? This likely has lawyers for those pending displacement in Norwood and in Clifton Heights. It may also impact the new Stewart Landing Plan.

Iraqi Voter Turnout

Well, I wonder how many people still believe the vote turnout in the Iraqi election was "overwhelming" or huge would be shocked to know that only 58% of registered voters came out to vote:

The election commission said 8.55 million votes were cast; about 14.66 million people were registered to take part in the election. The 58 percent turnout fell short of the 60 percent that officials had predicted soon after the vote.

I would guess those who think it was at 72% will just say that holding an election was the panacea to fix everything in Iraq, even though at the same time they said it was going to be a tough road ahead. You know, hedging your media spin is the only way one can survive in the world of Wurlitzer.

Best Seller Coming

I don't think Mike or Pat DeWine will enjoy the upcoming book release:

Due out in June: the book by Washingtonienne, the blogger who got fired from DeWine's staff for writing about her sexual exploits in Washington.

The book by Jessica Cutler - Washingtonienne's real name - is billed as a novel now, titled 'The Washingtonienne.' Amazon raves: 'Deliciously gossipy and impossible to put down, 'The Washingtonienne' is destined to be the book in everyone's summer beach bag.'

I have not checked, but the Wonkette was the place for the full scoop on Jessica Cutler, so she likely had this story awhile ago.