Townhall: After Them, The Deluge

I think i would phrase the damning statement a little differently. What they have been doing FOR DECADES is paying pensions out based on knowingly false investment return assumptions. Most pay out based on an 8% compound return. I challenge you to take a look at the S&P500 over the last 15 years and you will note that we are barely back to the year 2000 highs on most indexes…..so, compound 8% return? Right. They have taken the money knowing they would have to go to the taxpayer to fund the lack of investment returns(a gamble that we won’t call them out on their largesse) generated by these pension funds because we “promised them”. Then they allow the spiking, etc, plus, public employees get an almost guaranteed 2-3% raise every year despite the fact that the private sector is still getting crushed by lower wages driven by globalization and $2/hour labor from offshore. Our industrial jobs have disappeared and yet public employees are retiring at age 52-55, whatever, and the taxpayer gets stuck with the shortfall.

Please continue to inform your readers of this impending “Greek Moment” that is on the way to our country and our children.