Re: The Great Pension Deficit
Exactly and look at the bill for poor old Joe Taxpayer in addition to the regular budget. Deficit spending will not work here and the States need to balance all of the books before we can go forward.
Only two ways to fix this problem and they do not want to touch either in a mid-term election year. That is cut spending to the bone and/or raise taxes. That is the ONLY two choices.
Originally Posted by
OBGibby
James,
The same old tired union cheerleading which totally sidestepped the point I made in my original post...The point I was making was that many local and state pensions are straining under unmanageable pension obligations that they promised to police and firefighters (thanks to their unions). No matter how you do the math, when a cop makes a salary of $60K per year, but brings in $80K per year in pension retirement, it spells trouble. Somebody has to pay for that, and that somebody is Joe Taxpayer.
Socrates: "Democracy, which is a charming form of government, full of variety and disorder, and dispensing a sort of equality to equals and unequaled alike."
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