How can we survive 0bama’s presidency? If he is this bad now can you imagine what he will try to do in his second term?
In fact, the unions themselves are in trouble when it comes to fully funding their pension plans, particularly the health care portions. Why do you think they were such ardent supporters of the faux health care plan - it took billions of unfunded liabilities off their books.
Why is everyone in trouble?
In an earlier post I walked my fellow freepers through the numbers. Just like Social Security you need multiple people paying in to support a single retiree. And just like Social Security the impact of that requirement is decades (50 plus years) downstream.
The absolute minimum, ie no cost of living or inflation adjustments EVER, is four workers, or the funding for four workers, for every retiree. If you pursue the manpower option, four workers, you outgrown your population base - like Social Security has. If your pursue the funding option you break the bank as Illinois has.
In NW Florida we had a tax collector who was keeping the size of his work force down (future retirement debts) but offering bonus and incentives for greater work. Needless to say as soon as this was discovered he was chased out of office. How dare he do something responsible over the long term!
This system is going to collapse! :(:(:(:(