[Libloather]

Alabama Town’s Failed Pension Is a Warning

[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.

[blade_tenner]

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.

[Cheetahcat]

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

[jospehm20]

“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.

[Minn]

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

[The Comedian]

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.

[bill1952]

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

[vmpolesov]

What is it called when you hand the keys to the local government and say “here it’s yours.”

Normally, losing your property due to non-payment of property taxes keeps people in line. But when they have to jack up the rates to pay obligations (like pensions), maybe a lot of people do the arithmetic and figure it is cheaper to walk away.

Let’s say you owned your house free and clear. They decide to increase your property taxes significantly. You decide it’s no longer worth it. Can you legally demolish the house, strip anything valuable, and leave them an empty lot?

[Junior_G]

One 66–year-old retired fire captain said he is going back to work as a security guard so he can make his mortgage payments. Charities are helping some, but not everyone. The retired fire marshal, too young to collect social security and unable to find work, was found dead in his home with all the utilities turned off.

Huh?

[Junior_G]

Take Illinois.

...please.

Thank you, I'm here all weekend.

[Gritty]

Did they cut off the welfare, "free" medical care, Section 8 housing, ADC, and food stamps to the drones in Prichard as well?

I didn't think so. At least the people who had pensions they no longer get did some work to earn them.

[FreedomPoster]

I believe you’re somewhat near by. Any comments?

[Graybeard58]

You just can’t get water from a dry rock.

Where's Moses when you need him?

[dforest]

It would probably be cheaper for the government to return all of what people paid into SS all these years and allow people to invest it elsewhere.

well, of course they have spent it all and then some, but it couldn’t get much worse than it is now.

I am just musing.

[New Jersey Realist]

People are definitely going to not receive their money. Here’s an idea. Instead of taking it away from the people who worked for it, how about stop giving it to the people who do not!!!! No one under age 65 should receive a dime from the government. PERIOD.