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America’s Pensionless Future ("the largest threat to the U.S. economy.”)
The Trumpet ^ | 1/04/11 | Robert Morley

Posted on 01/04/2011 6:16:33 PM PST by Libloather

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Alabama Town’s Failed Pension Is a Warning
1 posted on 01/04/2011 6:16:39 PM PST by Libloather
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To: Libloather

The silver lining in all this may be that people will cease to trust government, and will want government to do a lot less — because government kills everything it touches.


2 posted on 01/04/2011 6:25:40 PM PST by ClearCase_guy
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To: Libloather

Yeah it’s a warning... you’ve got to make it on your own, and quit depending on some pension or guaranteed income when you retire. I’m sorry, but if you want guaranteed schools, healthcare or pension, go to a socialist country. Capitalism means that some people and towns and cities fail...so that others can succeed.

We have gotten soft with our expectations of cradle-to-grave security.


3 posted on 01/04/2011 6:26:15 PM PST by blade_tenner
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To: ClearCase_guy

Cutting the useless 90% of the drones nationwide would help.


4 posted on 01/04/2011 6:30:03 PM PST by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
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To: blade_tenner

This is an Emergency. An Emergency Spending Cut is needed to avoid Catastrophe. This crisis threatens national security.


5 posted on 01/04/2011 6:31:24 PM PST by screaminsunshine (Beware the Big Government Media Complex)
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To: blade_tenner

and we will do NOTHING. Folks we are already bankrupt.


6 posted on 01/04/2011 6:34:20 PM PST by fuente
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To: fuente

You are probably correct. Seeing the reaction of the drones throughout the nation won’t be pretty in many cases when the check doesn’t come in the mail anymore.


7 posted on 01/04/2011 6:38:23 PM PST by wally_bert (It's sheer elegance in its simplicity! - The Middleman)
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To: fuente

You are right, they just haven’t made the official announcement yet. When I recall hearing Zero stating he was going to spend a few billion on this and that, I honestly had to laugh at the stupidity of it all


8 posted on 01/04/2011 6:43:44 PM PST by mel (since progressive is code word for anti- i am a progressive progressive)
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To: Libloather

Fine then I will move into a government building and live in the lobby until they find MY money.


9 posted on 01/04/2011 6:46:57 PM PST by Cheetahcat ( November 4 2008 ,A date which will live in Infamy.)
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To: Libloather

“Read that again! This is San Diego, California—not Podunk, Nebraska.”

I would be willing to bet that the type of folks that run a Podunk, Nebraska are more fiscally responsible than the type of folks that run a San Diego, Ca.


10 posted on 01/04/2011 7:00:24 PM PST by jospehm20
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To: Libloather

Soon, it might make sense to cash in your 401K and take the tax penalty, just to get the money out of sight.


11 posted on 01/04/2011 7:13:08 PM PST by Minn
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To: Bullish; CJ Wolf; houeto; Quix; B4Ranch; Whenifhow; Silentgypsy; blam; FromLori; Lurker; ...
Why-I-liquidated-my-401k-and-hapilly-took-the-tax-penalty ping.

"Economic Holocaust" ping.

Increasing volume ping list watching the slow motion Economic Holocaust.

FReepmail me if you want on or off
The Comedian's "Economic Holocaust" ping list...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

12 posted on 01/04/2011 7:19:11 PM PST by The Comedian (Government: Saving people from freedom since time immemorial.)
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To: Libloather

Yeah, they might have to depend on social security.
Like the working stiffs who pay their pensions do.


13 posted on 01/04/2011 7:21:02 PM PST by bill1952 (Choice is an illusion created between those with power - and those without)
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To: jospehm20

>I would be willing to bet that the type of folks that run a Podunk, Nebraska are more fiscally responsible than the type of folks that run a San Diego, Ca.

Beat me to it.
In addition the level of snotty elitism revealed in the author’s statement is revolting

Thank you for your post


14 posted on 01/04/2011 7:28:16 PM PST by bill1952 (Choice is an illusion created between those with power - and those without)
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To: Minn
Soon, it might make sense to cash in your 401K and take the tax penalty, just to get the money out of sight.

Done.

15 posted on 01/04/2011 7:28:39 PM PST by Libloather (Teapublican, PROUD birther, mobster, pro-lifer, anti-warmer, enemy of the state, extremist....)
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To: ClearCase_guy

“The silver lining in all this may be that people will cease to trust government, and will want government to do a lot less — because government kills everything it touches.”

Very excellent point.

If you don’t have a pension, you have to work, or lean on relatives. You will not be an independent man of leisure traveling the world.

When Social Security face-plants and medicare pays so little that nobody accepts it - that will be the next leg down.

It’s the new normal, for the vast majority of folks.


16 posted on 01/04/2011 7:35:18 PM PST by RFEngineer
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To: Cheetahcat

“Fine then I will move into a government building and live in the lobby until they find MY money.”

That might be difficult, but there might be space for your refrigerator box over the grates outside.


17 posted on 01/04/2011 7:39:50 PM PST by RFEngineer
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To: RFEngineer

“That might be difficult, but there might be space for your refrigerator box over the grates outside.”

LMAO there maybe a fridge box shortage as well.


18 posted on 01/04/2011 7:48:16 PM PST by Cheetahcat ( November 4 2008 ,A date which will live in Infamy.)
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To: Cheetahcat

My husband took his retirement at 55 and took the penalty. He put it all in silver and it went up 30% since then. He has other projects that will make a living and we used some of the money for that. That more than paid the penalty.


19 posted on 01/04/2011 8:04:53 PM PST by Cowgirl
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To: bill1952

I seem to recall people arguing that the pensions will be paid by taxpayers. Same with social security.

The whole system is going to collapse. Taxpayers will flee, hide income, whatever they have to do. Pension collapse is a symptom of the city mismanagement, not a cause.

The author seems to imply that once the dollars stopped flowing the town collapsed.


20 posted on 01/04/2011 8:08:18 PM PST by BenKenobi (Rush speaks! I hear, I obey)
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