“The actual liabilities of the federal government—including Social Security, Medicare, and federal employees’ future retirement benefits—already exceed $86.8 trillion, or 550% of GDP. For the year ending Dec. 31, 2011, the annual accrued expense of Medicare and Social Security was $7 trillion. Nothing like that figure is used in calculating the deficit. In reality, the reported budget deficit is less than one-fifth of the more accurate figure.”
http://market-ticker.org/akcs-www?singlepost=3078988
They can SAY anything they like. The reality will end up smacking them in the face.......
If public employees unions want to fight it, there is a simple solution. Public employees benefits and retirement are paid by other public employees.
Leave the taxpayer out of it. We already pay their salaries. Let them negotiate amongst themselves how much their union brethren should get to retire with.