[Red Badger]

Apparently the teachers ain’t good a math......................

[Dr. Thorne]

Hey, no problemo. The brewpubmeister Poopenlicker will fix everything with a wave of his Marxist wand.

[SaxxonWoods]

They have to wait until it’s a “crisis” so it HAS to be done.

[goldstategop]

I’m shocked NOT - most cities and counties in this country are looking at billions in unfunded pension liabilities.

For which the taxpayers are on the hook.

[1Old Pro]

Weinberg said the hidden pension liability has allowed local politicians to increase their popularity by spending money on high-profile projects while ignoring the retirement burden.

Polticians have been boosting future retirement benefits for decades to garner union support. The future funding is almost never made - meaning benefits will have to be slashed and the beneficiaries can go pound salt for beilieving and voting for these lib pols.

[kingu]

Eventually the fertilizer will hit the fan, and the most important question will finally be answered: Can a previous government body compel a future government body to adopt a particular budget? If that's really the case, shoot, pass one budget, call it eternal, and everyone can concentrate on making new bag bans, prohibiting the exhale of steam, and adopt a more stringent requirement for more speed traps.

If that isn't the case, and this is unbonded debt, and there are no compelled budgets, then those with public retirements will likely find them severely reduced. And if they push it, they'll find them eliminated.

[blueunicorn6]

Take another toke and mellow out.

[Boomer One]

In the “old days”, teachers and government workers got good pension benefits because they had job security and lower pay. Then unions were formed and pay scales were raised to competitive rates with private industry, or at least that was the union argument. As salaries escalated there was no offset against future pensions, again thanks to unions and human nature of refusing to give up what you already have. The end result was easily foreseeable but ignored by politicians and accountants. Now, with boomers retiring, the situation has hit critical mass and I predict more municipalities and states will have to seek bankruptcy protection. As pensions are reduced post bankruptcy, we will have a new problem. How do millions of public workers adjust to retirement on less that they planned to receive? Unless the politicians step in with another unrealistic solution, they will have to adjust their standard of living to meet their new income as scores of millions of workers in the private sector have done. Sadly I doubt this will happen as politicians long ago realized this was an easily controlled voting base.

[vette6387]

Colorado “pikers,” California is way, way ahead of you with CalPers (just state and local bloodsuckers, but no teachers) underfunded by something like $500 Billion!

[familyop]

Offices, salaries, benefits and numbers of employees will be cut sooner or later.