Posted on 12/16/2010 3:54:21 PM PST by SmithL
Got a spare $5,500 lying around that you want to get rid of? If every single San Franciscan coughed up that amount, we could pay City Hall's retiree health care bill - for now anyway.
A new report from the controller's office shows the city has an unfunded retiree health care liability of $4.36 billion. That means it'll cost that much to pay the promised health care benefits for every current employee and retiree - and that number will keep growing as health care costs rise. By 2033, the tab will be a whopping $9.7 billion.
Guess how much the city has saved to pay down the costs so far? You guessed it. Nuthin'.
(Excerpt) Read more at sfgate.com ...
Never happen. The sainted homeless are the people that this liberal town cares the most for. Why they are like children and any misstep must be overlooked, because after all it is our fault that there are so many homeless in SF.
You are correct, and it is the same story at a county, state and federal level. Our politicians have made promises that cannot be kept.
The real question is what happens when the people say sorry, we won't pay or when the money just flat runs out and does not exist. It is irrational to think that the people will be paupers to pay for public servants false beliefs in Santa Claus. As one looks at our future, this is the clear and until-recently-unspoken issue, how does a society deal with such irrationality?
Civil War, hyper-inflation, societal collapse or other are most likely. A mature attitude saying that we all knew it was impossible to get what is promised is unlikely IMHO.
This cannot end well.
schu
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