Posted on 04/18/2018 5:52:35 AM PDT by reaganaut1
No excerpt allowed from Bloomberg, story here
Same thing happened to Soviet Union pensioners after the inevitable collapse of their country. Funny how that works out.
These pensions should be a 401k style belonging to the individual.
That day has arrived here in Illinois. But absolutely no politician dares say it out loud.
L
This will not be pretty when it hits critical mass.
The worst fear I have is that the property owners of the state will have to foot the bill that the corrupt politicians have incurred.
That could start a real revolution, and it’s scary.
I am actually tickled about the prospect of California’s bloated pensions going bust, because it’s the only surefire way to rid this state of the RAT Party. I just hope I’n still here to see it happen.
Its a self correcting issue... few are acknowledging in 5 years statistically
huge number of boomers will be at room temperature
Cemeteries are filled with people who thought they were irreplaceable...
Here in Kentucky, Bevin is dealing with it, starting with teachers. He is getting a lot of grief and to a lot of people I know he as become the devil incarnate.
In fact, the situation here is a microcosm of why I’ve said, for decades, that we are in this ride all the way to the bottom for the simple reason that any politician that actually tries to make the hard decisions will be tarred and feathered or, at the very least, a one termer.
That is why I lay the blame for our fiscal situation squarely at the feet of the voters.
And when we hit bottom it’s gonna hurt. A lot. It will be epic when the most powerful and interdependent civilization (i.e. it’s not just the US) ever to grace this planet collapses.
I think inside that 2000+ page, $1.3 trillion omnibus bill that nobody read or understood before voting for it or signing it was a provision to form a committee to see what can be done about the pension issue.
In other words, do what the politicians do best - form a ‘Blue Ribbon’ panel (so they can deflect the blame away from the Congress/states) to recommend the Fed print another several trillion and bail out the states and the unions.
Accountability is only for the little people.
You make a good point. The buck stops with the electorate.
CalPERS is on death watch.
I think that is why our government is basically anti-home-schooling. They can’t control what they think. It’s why Obama would not give that German home schooling family political asylum. It would send the message that our FedGov supports home schooling. That message is simply unacceptable to the planners, so there was no way he could give them asylum.
Same thing happened to Soviet Union pensioners after the inevitable collapse of their country. Funny how that works out.
I think your analysis is more correct...”Fraudulent contracts....”
More quantitative easing... govt devaluation if the dollar... print a new currency... govt demand we (Racist) citizens have only cashless (voter registration) society.
They’re already depleted for the most part, now they’re just living hand to mouth and robbing peter to pay pauline.
It is wise to remember that politics is the art of the possible.
It is possible to trounce Trump
It is not possible to alter the pension problem in a meaningful way
Demonizing Trump is a visible excuse for the impossibility of action on the pensions
CALI FIREMAN POCKETS ANNUAL MILLION DOLLAR PENSION A Los Angeles fireman retired in his 50s with a pension of over 1 million dollars per year with lifetime medical benefits.
Job Title: Assistant Chief-—Retired 2010-—Years service 32
Rec’d from L/A Fire and Police Employees’ Pension Fund 2015: $1,164,022.65 annual
Lifetime Health Benefits $17,286.69 annual (Excerpt) Read more at breitbart.com ...
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