State Pensions: The next multi-trillion dollar bailout

[madcowdisease]

Absolutely no doubt in my mind the hundreds of state employee pensions -- with trillion dollar gaps between what is promised state employees and what is available -- will be the next Federal bailout:

http://www.bloomberg.com/apps/news?pid=20601109&refer=home&sid=alwTE0Z5.1EA

http://www.moneymorning.com/2009/01/29/pension-plans/

http://www.projo.com/news/politics/content/pension_bailout_03-19-09_C0DNQ6Q_v17.34f17d8.html

http://www.reason.com/news/show/130843

Enjoy!

[BuyOnDips]

I hope people aren't expecting to get state pensions and social security. We live in interesting times.

[Galt]

When you start talking about cutting state and local pensions, remember that many of these people are retired Law Enforcement in various forms from game wardens to prison guards. With the probable gun control laws coming from The Pelosi gang, these retirees will be the only ones armed. Not a good formula for cutting benefits.

[madcowdisease]

When you start talking about cutting state and local pensions, remember that many of these people are retired Law Enforcement in various forms from game wardens to prison guards. With the probable gun control laws coming from The Pelosi gang, these retirees will be the only ones armed. Not a good formula for cutting benefits.


Pelosi et al have no intention of cutting anything -- except maybe your knees out from under you and your take home pay as they tax productivity to oblivion.