Posted on 09/26/2014 11:53:54 AM PDT by george76
I wouldn’t place the blame squarely on politicians. Probably the biggest factor in the insolvency of pension systems (as well as Social Security and Medicare) is an average life expectancy that is much longer now than it was when these pensions were first set up. There’s no way to fix this except by doing one of the following: (1) cutting pension benefits, or (2) euthanizing people.
They would never get away with that, far too many voters have a 401-k/IRA.
Except for government workers, few have defined benefit pension plans.
Government employees aren’t very popular with the general public, taxpayers are in no mood to bail them out.
Fully earned trouble.
Pass the popcorn, please.
The local government pays the current wages but the Defined benefits are paid by the State. Hence, the locals got the benefit of the cheap contracts so the workers got the locals to increase the future retirement costs and passed the cost to the State. So the fair thing now is for the State to charge the local governments back for the retirement costs that they finessed in the earlier years. So the worker isn't the victim of screw me now and screw me later.
Zero of the workers are victims of “screw me now screw me later.”
As in none of them.
We have known from the beginning that these unfunded pensions would eventually run out of money and it has been an issue that was harped on in politics all of my life.
One hundred percent of public employees in these unfunded positions have been aware of the controversy, and chose to take a gamble anyway. Many of them chose to put blinders on and earplugs in, lest too much unpleasant truth disturb them.
No sympathy here because none is deserved.
No wonder Zeke Emanuel is “pushing” dirt naps @ 75. This is really their only way out. Kill off their liabilities, before their liabilities bankrupt them. Only solution: “Liabilities” kill off the government first.
“Public Pension Funds Face $2 Trillion Shortfall, Moodys Warns”
I don’t have a problem with demanding that commie public unions pay out $2 trillion to balance the books. If the commies can’t do it, tough. Eat grass. you commie pricks, just like your brothers in NK.
I will point out to you that declaring all smoking laws relating to smoking on private property unconstitutional would more than solve the problem.
“I will point out to you that declaring all smoking laws relating to smoking on private property unconstitutional would more than solve the problem.”
So you are saying that the government should just let people smoke themselves to death? I don’t know where you are, but here in California, almost no one smokes anymore. It’s an odd day when I ever smell any tobacco smoke of any kind. Now Marijuana is another matter.
I don't know who you included in 'we' but I only heard of this problem when Government investments did not pay the projected 8% income. My wife started teaching in 1950 in NYC for $2500 per year and she never heard of it then.
It was the focus of never ending editorials (from across the political spectrum) in both the Tulsa World and the Tulsa Tribune throughout the sixties and seventies. I assume it continued there after I left.
Absolutely the topic has been addressed frequently on these forums since i began dropping in occasionally during Alan Keyes’ first run.
I suppose if one reads only sources with an extreme left bias one could be shielded from reality, or one could not read politics at all. Or one could refuse to see what one doesn’t want to see, and discount everyone who brings up an unpleasant topic as uninformed or stupid.
[Sept 13, 2015]
I guess I missed it....whatever it was.....
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