Posted on 04/23/2010 6:53:46 PM PDT by raptor22
Usually it takes a national government to spend itself into a debt measured in the trillions. Yet it comes as little surprise that the same profligacy that pervades the corridors of federal power infects this country's 87,000 state, county and municipal governments and school districts. By 2013, the amount of retirement money promised to employees of these public entities will exceed cash on hand by more than a trillion dollars.
That's according to the Center for Retirement Research at Boston College, which earlier this month released a troubling analysis of 126 state and local pension plans. The center's researchers found in the wake of the stock market collapse that measures of pension program solvency hit a 15-year low with no signs of improvement on the horizon. This means taxpayers will be left picking up the tab.
(Excerpt) Read more at washingtontimes.com ...
Yes they are. If I were the labor unions I would stay far away.
A friend of ours told us how she plans to “retire” and then get called back to “consult”....for 6 months.....known as DOUBLE DIPPING....where does she work? EDUCATION ADMINISTRATION....in a small school district.
When gov’t employees are allowed to unionize, it leads to an Apartheid system.
Come 1-20-2013, President Palin should bust them up like trustbuster Teddy Roosevelt.
and yes, its military, and police, and firemen, and teachers, etc....
There is a military union?! That is a dangerous idea. Unions cause corruption.
Lets say the Feds bailout California with a 20 billion dollar loan. Will the Feds insist that bloated pensions be cut back in order to get the billions? I have my doubts because the Gov’t workers are 90% Democrat voters
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