The Current FReepathon Pays For The Current Quarter's Expenses?
Posted on 11/23/2015 10:37:33 AM PST by MichCapCon
And people are worked up over Trump’s “bankruptcies”...
Keep voting for Democrats, you idiots!!!
Reparations are expensive.
Hmmm, I came up with 4.2 billion from newspaper articles, I wasn’t far off. Far worse than they were telling us. I wonder if the Detwaa bankruptcy could have happened if this was not carved out....
The Current FReepathon Pays For The Current Quarter's Expenses?
Might explain how Hillary "misplaced" 6 billion when she was Sec of State.
It would also explain the Social Security "lockbox" demise.
Why doesn’t Soros offer to help?
Union member: I'll do that only if the police and firemen get premium pensions.
Politician: But of course.
Every few years, same conversation, same results. An ever-upward escalation of pension benefits at the expense of the taxpayers.
I don’t know the particulars of this pension, but most public pensions are based on the rosiest of projections and pay out much more than a comparable private plan. Usually retirement prior to 60 years old, and a large payout every month. Its not uncommon for somebody who worked for 25 years to get 20 years of pension - which is nearly impossible to make work.
State Pension Fund managers are at fault here, for allowing this situation to grow to endanger the pensions of other, better managed districts.
Even one city like Detroit is a cancer that can crush an entire state.
Getting teachers and tutors who speak 90 different languages is expensive
You are probably right, but I can’t help but think that somebody did some “borrowing” along the way.
There were some great in-depth reporting on the mismanagement of the pension from the 2 Detroit Newspapers when that story was gaining steam. Tales of cronies being made Pension Managers with no financial background loosing 1.5 billion comes to mind. I don't know if the Teachers Pension did this, but any year the Pension did well via the markets, the pension recipients got a bonus kind of like the "Big 3". But what they were doing was dipping into seed corn for the future by the disbursement of this equity / asset. Even Mayor Dennis Archer tried to get to stop this in the early to mid 90's and the dysfunctional City Council said Nyet..
I hope Cripplecreek can confirm what I have posted here and that I got the info correct...
Easy fix...tap into the Detroit money tree project...
Unicorns watch over the groves of trees and fertilize them with unicorn poop that looks like skittles...
I hear it’s a bumper crop this election year...
Thanks for helping with my hunch.
No doubt borrowing happens. If a private company did this with 401k match money, its a crime...but if a municipality does it, its considered good fiscal policy.
Ever noticed that whenever we have a faux fight over raising the debt limit, it is preceded by weeks of no increase in national debt, punctuated by a huge jump in debt immediately after the limit is raised. Among other things, the money changers in Washington are borrowing from federal employee pension funds to keep the government open...so they can essentially ‘schedule’ the debt limit fight for the optimal time.
Detroit and its finances are a source of “Reparations.”
Democrats are all about sustainability. /s
They should sue the Democrat Party. They have loads of money.
Wanna solve the majority of the world’s problems? Easy: Stop paying people to breed and vote....
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