“Sore Loser” With “Limited Credibility”

That’s what a group of 70 Public Plan actuaries* at this month’s EA meeting view was of Moody’s and their revised rating methodology for US states as it relates to valuing unfunded pension liabilities:

Ravitch/Volcker on New Jersey Budget Crisis

The report on New Jersey was released a few hours ago by the State Budget Crisis Task Force.  I expect to have highlights soon but, for now, I found what Richard Ravitch had to say in his closing remarks during the live stream* of the prolegomenon most insightful.  What galls him the most is:

Is the Tea Party dead?

Paul Mulshine seems to think so according to a blog post where he claims:

“The tea party movement didn’t fall apart that fast or that violently. But its collapse is just as complete.”

I have not followed much of the Tea Party movement primarily because, though the members may be Taxed Enough Already, they don’t seem to be focusing on why or how.