Private sector can't afford public sector employees

The Tampa Tribune ^ | july 4 2009 | John Reiniers

[WOBBLY BOB]

USA Today reports that "The federal government has unfunded obligations of $1.2 trillion to pay for retired health care for retired federal workers ... and Medicare and Social Security obligations pushing the total to more than $5 trillion."

[ken21]

i’ve noticed that for years.

pull up to a stop sign and the verizon panel truck is a decade old,

and the plumbing truck the same.

up pulls a brand new city vehicle occupied by a union member.

[Liberty Ship]

Seems like every couple I know who can actually retire does so on the basis of at least one state, county, municipal, or federal retirement. Seems like every nice little house in Western North Carolina or the Villages in Florida has at least one retired teacher’s package funding the homestead. It is very difficult for someone to retire from the private sector now, but do 20 years for the county...

I think the next “class warfare” should be the disparity between government “retirement” and productive sector “retirement.” The government is creating a different class of elderly at the expense of the producers.

[WOBBLY BOB]

I think the next “class warfare” should be the disparity between government “retirement” and productive sector “retirement.”

I think the next civil war will be us peasants against the czars and their cronies.

[Liberty Ship]

Same thing.

[ErnBatavia]

The new Middle Class, by definition.

[KansasGirl]

It should be against the law for public employees to unionize.

[In Maryland]

The author fails to mention the massive underfunded liability for Federal Employee pensions under the former Civil Service Retirement System. Federal employees who started before 1984 were covered by a plan that the government has never properly funded and the unfunded liabilities are massive (and of course there are relatively few workers in the old plan who are still contributing - anyone without serious time in the old plan (and with any brains) switched to the new 401/Social Security based plan when they could.)

But, of course, if Obamacare passes the government can count on a higher mortality rate solving some of the problem.

[George from New England]

“It should be against the law for public employees to unionize.”

Agree here 110%.

[WOBBLY BOB]

Wish that it were, but that’s the best why for the statists to keep growing big gubermint.

seems Glenn Beck is on to something...we are headed toward an oligarchy.

“It’s official: Obama creates more czars than the Romanovs “

http://rothkopf.foreignpolicy.com/posts/2009/04/16/its_official_obama_creates_more_czars_than_the_romanovs

[bestintxas]

Here’s my take:

There is no sanctity for public employees’ pensions just like there is no sanctity for my own Social Security.

The private sector is getting screwed royally.

The basis for government pensions needs review:

Let’s throw them in with Social Security so they will be equally protected.

[nascarnation]

It should be against the law for public employees to unionize.

The first thing Mitch Daniels did upon taking office in Indiana was to de-unionize the state employees who Evan Bayh had unionized. Thank goodness the state constitution allows it.

[blam]

"I think the next civil war will be us peasants against the czars and their cronies."

Yup. Union members against the rest of us.

[WOBBLY BOB]

good site on the subject:

http://www.pensiontsunami.com/public.php

[Sequoyah101]

Amen to that. The finest of the best for the city and county mainetenace fleets and you see the contrators doing the work with stuff that looks like it came over on the Mayflower.

By my calculations if one begins saving at age 22 and earns 6% interest with 3.5% inflation and 4% average raises for inflation, seniority and promotions he has to save at least 25% of his gross for 40 years to retire at 80% of his ending base. NOBODY does this and NOBODY can and the governments sure DON’T. The feel good useful idiots don’t have a friggin’ clue what it takes to fund the obligations they saddle the taxpayers with and it is way past time it stops.

The justification for this headline article is simple ...Average federal employee compensation $75,000 ...Average household income $54,000. See anything wrong here?

[screaminsunshine]

You should see all the brand new Marine Patrol twin and triple outboard motorboats in Tampa Bay. All they do is harrass poor fishermen in their little fishin boats for useless liscensing paperwork and scare the fish. Disgusting.