Monday, May 25, 2015
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Recent Comments

CoolEdge - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
30 years of cooling (to 1980 or so) then 30 years warming They use the data on the warming half of one cycle, and call it "long term". They need 50 cycles, not one half of one cycle ... dishonest arses. They know damn well they start at the end of a long cooling period, yet don't account for it, and usual only a straight line linear regression for their argument, which hides the last 18 years…
CoolEdge - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
"The rest of Taylor’s article is just whitewash intended to distract readers from these facts." So these guys are mind readers, not scientists? They can read his intent? Or they are using personal attacks when they don't have facts on their side? I think the U of I boyz are the ones spinning here. Taylor notes this short time range ... readings from 1979 are not "long term" when it…
Expatriate - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
Al Gore is an idiot. There's no denying that. For the record, I bet Taylor understands the data just fine. That's how he knows where to cherry-pick.
Expatriate - Updated NASA Data: Global Warming Not Causing Any Polar Ice Retreat - Quincy, IL News - QuincyJourna
For one, he's not explaining to the reader that there's a difference between polar ice cap extent and polar ice cap volume. People monitoring global warming are less concerned with polar ice extent than they are with the total amount of ice. Take a peek at the declining volume in the Arctic: "April 2015 volume was 26% below the maximum April ice volume in 1979 and 13% below the 1979-2014…
Givemeliberty - Illinois Senate passes marijuana decriminalization bill but plans changes - Quincy, IL News - Quincy
I think it'll come, its just going to take time and some education on the pro and anti side of the debate. People will soon see the sky will not fall.

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Report: 5 state pension funds owed $100.5B

1 year, 4 months ago sj-r.com

Debt would have been lower if computation method hadn't been changed

From sj-r.com:
Illinois’ pension debt has officially topped $100 billion, according to a new report issued Wednesday.
And in a bit of irony, the debt would have been lower if lawmakers hadn’t decided in 2009 to change the way it’s computed — in order to lessen the effects of stock market losses.
The report from Auditor General William Holland’s office shows the unfunded liability of the five state-funded pension systems was $100.5 billion as of June 30, the end of the state’s fiscal year. That’s an increase of $5.9 billion from the previous year.
However, that’s the deficit as computed using a process called “asset smoothing” in which investment gains or losses are spread over a five-year period. That approach was adopted by the General Assembly in 2009 at a time when the recession was devastating investment income for the systems. The first time the smoothing system was used, it resulted in the pension deficit being $15 billion lower than it would have been otherwise.
In the latest report, the pension deficit would have increased only about $668 million, to $97.5 billion, had the smoothing method not been used. That’s a reflection of the significant gains in the stock market in the past year.
“The smoothing is intended to even out the extremes,” said Rep. Elaine Nekritz of Northbrook, the House Democrats’ point person on pensions.
Although some may be tempted to have the state return to the old system, Nekritz said that would be a mistake.
“To really be successful at that, we would have to be anticipating the market and I don’t think that’s a task we should be pursuing,” Nekritz said. “Asset smoothing is used by a fair number of pension systems around the country, so it’s not like Illinois is unusual in adopting that method.”
The numbers reflect the pension debt before lawmakers approved a pension reform plan.

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