Q — What is the purpose of those silk sashes worn by West Point cadet officers?
A– Except for looks, none, anymore. When first issued they served as an emergency stretcher for carrying the wounded.
— William W. Lawrence Sr.
Pennsylvania Budget Logic Baffling
Pennsylvania Budget Logic Baffling
By Scott Wagner
Coming from the private sector where we actually get things done every day, I continue to be baffled as I watch Harrisburg chase its tail over how to pay for the 2017-2018 budget.
Last week the Treasurer told us the state is going to have to borrow more money or Harrisburg will shut down. But is that necessary?
I sat down and did the math, and here is how we should be looking to solve our budget problems:
You would have to be living under a rock to not know that we have a pension crisis in Pennsylvania. On May 25th, the Auditor General completed an audit of the Public School Employees Retirement System (PSERS) pension fund for the 2016 year, and it isn’t pretty. It isn’t pretty at all.
In 2016 the PSERS pension fund saw an astonishingly low return of 1.29% on $49.2 billion in assets. In dollars, the return was $634.6 million — which may look like a lot on paper, until you factor in that PSERS paid $416 million to money managers. It looks like a lot of money until you recognize that in 2016 most 401k retirement programs saw more than an 8% return. It was an exceptional year for everyone except Pennsylvania taxpayers
An 8% return would have yielded an additional $3.3 billion — which is more than enough to solve our budget problems.
PSERS could have put their money in a bank CD and received a better return (1.45%) — but who in the world would do that — and who would pay $416 million to money managers who would yield such a shameful return on investment?
I’ll tell you who would do that. A governor who’s asleep at the wheel, inept, or just doesn’t care.
Tom Wolf’s mismanagement is the biggest sham against honest, hardworking people that there ever was.
Why is Pennsylvania state government so bad at managing its employees’ money? If I were the Governor of Pennsylvania I would demand the answer to that question – but only after I fired the money managers at PSERS.
Where is our Governor? When he was running for election back in 2014, Tom Wolf presented himself as a “brilliant businessman,” and yet here we are paying $416 million for a return that we could have walked into a local bank and gotten ourselves.
PS: It is no secret that the PSEA (Pennsylvania State Education Association) fiercely hates me and has instructed their teacher members to hate me also. Isn’t it ironic that I am criticizing the PSERS pension fund performance demanding better returns so that all of the Pennsylvania teachers get their pensions paid?
Pennsylvania Budget Logic Baffling
William Lawrence Sr Omnibit 8-9-17
Yes, Christopher Anthony, Wisconsin residents drink the most — 26 gallons per capita per year — malt beverages in America.
— William W. Lawrence Sr.
Anti-Trumper Accused Of Killing GOP Activist
Anti-Trumper Accused Of Killing GOP Activist — Clayton Carter, 51, of West Goshen, Pa. has been charged with murder and related crimes in connection with the death of his neighbor G. Brooks Jennings.
Carter allegedly shot Jennings about 1 a.m. Tuesday (Aug. 8) after a dispute. Police said after Carter shot Jennings the first time he put a bullet in his head as he lay on the ground. Jennings was on his own property.
The Philadelphia Inquirer gave it a brief mention with the headline that it was a “long-running feud.”
What they didn’t mention was that the accused killer was a vocal opponent of Donald Trump and that the vicim was a Republican activist and strong Trump supporter.
This is nothing new. Democrats lie when they talk about love and tolerance. When they accuse those who just want to be left alone of “H8” they are projecting.
Anti-Trumper Accused Of Killing GOP Activist
Delaware County Patriots 2017 Picnic
Delaware County Patriots 2017 Picnic — The Delaware County Patriots annual group picnic is 1 – 4 p.m., Sunday, Sept. 10 at Pavilion 17 in Ridley Creek State Park.
There will be sandwiches, drinks and cutlery.
Candidates for state and federal offices are expected to attend.
A $5 donation is requested and appreciated.
Please RSVP by emailing reginamsch@verizon.net .
Delaware County Patriots 2017 Picnic
William Lawrence Sr. Omnibit 8-8-17
It is hard to believe that Emily Dickinson had just seven poems published during her lifetime. Most of the 1,700 poems found in the attic of her Amherst, Mass., home were published after she died.
— William W. Lawrence Sr.
William Lawrence Sr. Omnibit 8-7-17
It takes 700 separate steps to produce a Hummel figurine.
— William W. Lawrence Sr.
William Lawrence Sr. Omnibit 8-4-17
King Faisal of Saudi Arabia was a Grateful Dead fan. He was assassinated by his nephew in 1975.
William Lawrence Sr. Omnibit 8-4-17
William Lawrence Sr Omnibit 8-3-17
The Runwanweli pagoda in Sri Lanka is built on a 500-square-foot, four-inch thick foundation of solid silver.
— William W. Lawrence Sr.
William Lawrence Sr. Omnibit 8-2-17
Columbia Confusion — The residents wanted to name their new state “Columbia” back in 1889 but were talked out of it as it was thought some might confuse it with the nation’s capital, the District of Columbia.
So they named it Washington.
One of the founding settlers of Washington State was a black man named George W. Bush.
William Lawrence Sr Omnibit 8-2-17 Columbia Confusion