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Iamsemisweet -> RE: NBC forcasts GOP Governor Walker the winner with 61 percent of the votes to him. (6/8/2012 7:34:24 AM)
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Even if the states are able to meet their existing pension liabilities going forward, without a taxpayer rebellion, what is wrong with changing public pension systems going forward? The biggest opponents of pension reform are, you guessed it, public employee unions, who would rather sacrifice education and funding for essential public services. It is wrong, and damn right it needs to stop. If that means the unions get busted, so be it. The states need to go to a matching contribution, 401K type system, instead of a defined benefit system.
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ORIGINAL: thompsonx
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ORIGINAL: Iamsemisweet
I am certainly no fan of Scott Walker, and I think he is going to be indicted soon. However, it is correct that Public Employee unions need to be brought under control. Unionization of public sector employees is a failed experiment.
How so?
How many corporations have gone bk because of their failure to fund the pensions they had agreed to?
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There is one trillion dollars of unfunded public pension liability in this country, and that doesn't include the Feds. How long before that bankrupts some of the states? And even for the states that don't go banko, how long are taxpayers going to be content accepting lower levels of service so pension liabilities can be met? It had to stop, at least prospectively. That is the ugly truth.
The ugly truth is someone did not fund the pension fund as required by the contract.
Do all of managements pensions come under the same axe?
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My Love is a fed, and is relying on his pretty cushy pension to retire, so I understand the importance of these pensions.
No you do not seem to have a clue as to the importance of these pensions. This is what people plan to live on for the rest of their lives. It was negotiated in good faith and now you want to back out of the deal.
The pension is not the problem nor the source of the problem. The problem is that it was not funded properly in the beginning...it would appear to me that you have ahold of the wrong end of the stick.
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But we have to be realistic as a country, and it is obvious that the states can't afford this burden.
So if you have kids and after a while it becomes a drag to feed and cloth them so you just tell them "we have to be realistic as a family, it's obvious that me and he can't afford this burden"..."you are on your own kids fuck dat responibiity and keeping my word shit"..
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