To: snowman1
f it was really looked into close they would probably find that the "PENSIONS" eat up most of the shortfall.
Yep--this is another looming crises for municipal and state governments all over the country. San Diego will have to go into bankruptcy to deal with its' public employee pension debacle. I live in Orange County CA, and the O.C. Treasurer is all but guaranteeing another bankruptcy. The father of a friend of mine just retired after 30 years from the county. He was making well over 6 figures in salary. Under the new 3% per year formula he will be making more than 6 figures annually in RETIREMENT. This is a common situation here and across the country, and it is unsustainable.
12 posted on
03/11/2006 4:02:51 PM PST by
rottndog
(WOOF!!!!)
To: rottndog
That's the racket alright, Crowd the poor into roach infested hellholes and skim the money off for salaries and pensions of unionized bureaucrats. No way they could live on their social security.
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