Never thought I’d say it, but San Diego........WELCOME TO WISCONSIN!!!!!!!!!!!!!!!
Here comes the bongo drums and freak shows.
I agree that they need to cut back, but cutting from the present pensioners is cruel and really unfair....
All pensions should be funded as they are earned to allow compound interest to accumulate the desired benefit. The idea that we can promise a pension in some distant future to a public employee, accept their services for twenty years without funding their pension, and then somehow come up with a fund at the end representing 20 years of accrued interest is dishonest and absurd. If you couldn’t budget an annual pension contribution for twenty years, how on earth will you come up with a twenty year accrual at the end? Its like running up someone else’s credit card knowing you have no means of discharging the liability.
The Walker Effect® taking shape, even in the Peoples Republic!
Bump to read later