Pensions

[FollowTheMoney]

Public pensions are screwed. With tax receipts falling over a cliff in many of the locals, those funds are guaranteed to fail. Even local unions such as the International Union of Painters and Allied Trades is underfunded by, if I remember correctly, about 35%. When many of these locals start to file bankruptcy, which some have already, things will get much, much worse.

List of Bankruptcy Filings Since January 2010
All Municipal Bankruptcy Filings: 47
Examples .....
-- City of Detroit
-- City of San Bernardino, Calif.
-- Town of Mammoth Lakes, Calf.
-- City of Stockton, Calif.
-- Jefferson County, Ala.
-- City of Harrisburg, Pa.
-- City of Central Falls, R.I.
-- Boise County, Idaho
Stockton bankruptcy ruling a blow to pensions

Also, businesses with, and without, pension funds are, and have been, crashing as well .....

Number of 2013 Business bankruptcy filings were 33,212
Number of 2014 Business bankruptcy filings were 28,319

Look out below!!!

 

[Larry Gude]

Sure why not. As long as you're complaining about someone complaining about how much they get, why not complain about congress, state assemblies, county commissioners..., who also get to determine their own salaries.

That would be a good way to obscure the point and throw up the hands in disgust and say nothing can be done about it. You've now separated out people who, if nothing else, if we really wanted to, we could fire them, not re-elect then vs. the question of how public service unions have their power and what is being done about it if it grows a little too big.

 

[Merlin99]

That would be a good way to obscure the point and throw up the hands in disgust and say nothing can be done about it. You've now separated out people who, if nothing else, if we really wanted to, we could fire them, not re-elect then vs. the question of how public service unions have their power and what is being done about it if it grows a little too big.

Not trying to obscure the point, just trying to keep you from deciding to cancel parts of the constitution because you don't like some of the uses.

 

[Larry Gude]

Not trying to obscure the point, just trying to keep you from deciding to cancel parts of the constitution because you don't like some of the uses.

What part am I suggesting we cancel? Free association?

 

[Merlin99]

What part am I suggesting we cancel? Free association?

See post #17