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Alabama Town’s Failed Pension Is a Warning
The New York Times ^ | December 22, 2010 | Michael Cooper and Mary Williams Walsh

Posted on 12/23/2010 2:45:34 AM PST by abb

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To: TN4Liberty
Under what Constitutional authority would the Fed gov’t take them over?

That document has had almost no bearing on the operation of the Federal Government since the Wilson administration.

101 posted on 12/23/2010 1:31:34 PM PST by triumphant values (Never criticize that to your right.)
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To: abb
I did not see a date on this video / article but it is not about the pension problem. It is about what some replies have stated above.. Prichard has a whole bunch of problems.

This LA Times article with video shows Prichard as a small rural community, largely segregated, oppressed by violence and ignored by the surrounding community. "Its young people have come to know their enclave as 'Death Valley.'"

Its poverty is shocking.. even for LA inner-city toughs. But there's stuff that the inner-city homeboys recognize: "drug dealers, shootings, dead-end choices and the desperate situation of youth facing no way out."

Here

Many of the reader comments blame Palin and the Tea Party, of course.

102 posted on 12/23/2010 1:40:46 PM PST by WilliamofCarmichael (If modern America's Man on Horseback is out there, Get on the damn horse already!)
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To: suthener
I don’t know if Prichard is a good example of what is happening in other cities. Prichard has been broke and on the border of bankruptcy for a long time. It is probably 95% black and is and has been riddled with corruption for years. The crime rate is outrageous and it has virtually no tax base.

Detroit, Gary, St. Louis, Camden, Memphis, Jackson, etc. I would say Prichard is a perfect, albeit smaller, model for what is going on in many other American cities.

103 posted on 12/23/2010 1:41:24 PM PST by triumphant values (Never criticize that to your right.)
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To: WilliamofCarmichael

It is a suburb of Mobile, AL.

http://en.wikipedia.org/wiki/Prichard,_Alabama


104 posted on 12/23/2010 1:50:25 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: WilliamofCarmichael
This LA Times article with video shows Prichard as a small rural community, largely segregated, oppressed by violence and ignored by the surrounding community. "Its young people have come to know their enclave as 'Death Valley.'"

We as a country have poured untold trillions upon trillions into black America. Either through education dollars, healtcare, subsidized housing, policing, prisons, drug rehabilitation, you name it. And the problems only got worse.

Now we are repeating the exact same thing with our Latin American population, whether legal or illegal, just as the money is surely running out.

This topic needs to be brought up as issue priority number one, every day, all day. Because if the target population is not made to understand what truly is going on, it will get bloody, when those checks run out, guaranteed.

I don't have the answers and it's not exactly a sexy topic. But is Rush banging the drum on this? Is Hannity? I haven't heard it or when I do it's so subtle that it's pointless.

It needs to be a calm, blunt, honest and rational assessment and it's going to have to touch on nasty things like inherent abilities and expectations. And we have 5 years tops.

I'm not hopeful.

105 posted on 12/23/2010 1:58:14 PM PST by triumphant values (Never criticize that to your right.)
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To: InvisibleChurch
Gangsters come in all flavors, corporate and union and self employed.

Yes they do, but running on the "I Got Mine" platform will get you about 2% of the vote. I guess your invisible church will reach out to the victims of government and corporate theft. He!! let them eat cake.

106 posted on 12/23/2010 1:59:21 PM PST by itsahoot (We the people, allowed Republican leadership to get us here, only God's Grace can get us out.)
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To: ml/nj

You can argue about the cost of “ Fire protection? Maintaining a sewage system? Police protection?” but not the necessity or do you not recall the garbage strike?

Anyway, get down off your high hobby horse. NYC has what it has worked for, fought for, elected corrupt political hacks to beg, borrow and steal for them. and those that didn’t want to join the fun are being driven out.


107 posted on 12/23/2010 2:00:45 PM PST by count-your-change (You don't have be brilliant, not being stupid is enough.)
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To: kearnyirish2

There isn’t a city in American that can’t afford to lose 20% of the cops and NOT be better for it.

Less citizen harassment by police and less cost now and future. Also a roll-back of the police state.

They only post the scare stories to make people think they are needed when in fact, we have far too many cops.


108 posted on 12/23/2010 2:04:47 PM PST by packrat35 (I got your tag line..)
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To: kearnyirish2

Here in Maine people who are in state government appoint each other to cushy high compensation jobs like judge, AG, so they can feather their retirements.


109 posted on 12/23/2010 2:15:42 PM PST by Chickensoup (I am no longer Republican or Democrat, I am Conservative.)
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To: count-your-change
You're so blinded by your own wisdom that you seemingly cannot read. I said I grew up on Long Island, Roslyn Heights to be more precise; not NYC.

But it really doesn't matter. Government employees are leeches wherever they are. They want, they need; so I should do without.

"Public servants," my a$$.

ML/NJ

110 posted on 12/23/2010 2:17:21 PM PST by ml/nj
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To: Leisler

I have to put in a good word in defense of boom times, even if they are usually based on false notions. This is because they serve a very useful function over time, *in relation* to other times.

An economy that moves between a situation of modest growth balanced with modest recession, over time tends to build up a lot of business detritus and inefficiency. It lacks both the natural selection of a serious downturn, and the big jumps that come from speculative innovation.

For example, there was a very good reason for the boom of the recent industrial revolution of personal computers. But this boom needed vast amounts of investment capital that could not be obtained through ordinary investment channels. Yet eventually it turned into a stable market that still exists.

However, after this boom, there was a second boom, founded on far less stable market growth, but a lot more speculative investment, the “dot com” boom. When this boom went bust in 2000, it was a crash that was more like a typical speculative boom, throwing the economy into a deep recession—which was needed to rebalance the economy.

As a nation, we now face a much more serious dilemma than this booms, one that has been developing since just after World War II, with the introduction of the easy credit economy. An ordinary, even deep recession will not be enough to fix this philosophical error.

To restore balance to our economy, we almost have to have a depression, losing 70 years of unsustainable growth that right now we still don’t even realize is unsustainable.


111 posted on 12/23/2010 2:19:18 PM PST by yefragetuwrabrumuy
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To: ml/nj

I’m sure you raised the intelligence level of the whole area by leaving it.

“They want, they need; so I should do without.”

Sounds like someone who tried to get his nose into the trough and got pushed aside.


112 posted on 12/23/2010 2:33:28 PM PST by count-your-change (You don't have be brilliant, not being stupid is enough.)
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To: triumphant values
And we have 5 years tops.

I think you are way too optimistic. I think we have less than a year.

113 posted on 12/23/2010 2:38:19 PM PST by packrat35 (I got your tag line..)
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To: count-your-change

You come off like someone whose nose is in the trough and resents having to give it up.


114 posted on 12/23/2010 2:42:36 PM PST by packrat35 (I got your tag line..)
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To: count-your-change
Sounds like someone who tried to get his nose into the trough and got pushed aside.

Not even close, Putz. I've always been one of those guys filling the trough. I would do work for the military, and only then as a contractor, but that's it.

ML/NJ

115 posted on 12/23/2010 2:45:08 PM PST by ml/nj
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To: packrat35
Gee. I had similar thoughts.

ML/NJ

116 posted on 12/23/2010 2:46:26 PM PST by ml/nj
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To: abb
Lottery style government retirement pensions are gang raping the American private sector
117 posted on 12/23/2010 2:47:02 PM PST by dragnet2 (Diversion and evasion are tools of deceit.)
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To: count-your-change
Their promises were made law so do you suppose law only apply so long as those who passed them are alive?

They don't have the money. They can't get the money. The money doesn't exist. It would be like the government making a law that we can only get maple syrup from oak trees.

You got words on paper, now what?

118 posted on 12/23/2010 2:47:08 PM PST by triumphant values (Never criticize that to your right.)
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To: napscoordinator
This is ridiculous. These folks worked for forty years and now can’t get their pensions.

Hey....This is only supposed to happen to the slaves in the private sector....Not government employees!!

This is just too damn bad for them...

Like those in the private sector, if they can't make it without their lottery style government retirement pensions, they need to go apply at Walmart to make ends meet.

Enough!!

119 posted on 12/23/2010 2:54:11 PM PST by dragnet2 (Diversion and evasion are tools of deceit.)
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To: napscoordinator

NO federal bail outs of government retirement pensions!!


120 posted on 12/23/2010 2:59:46 PM PST by dragnet2 (Diversion and evasion are tools of deceit.)
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