The New 49'ers :: Members Forum :: State pensions in big trouble!

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State pensions in big trouble! ( 02:26:13 SatJan 22 2011 )

Take a look at this article in today's N.Y. Times where they are floating the idea of allowing States to declare bankruptcy since it is becoming clear that some of them (especially California) will not be able to meet their financial obligations.

On the chopping block is the State pension plans!

With the substantial influx of conservative Republicans in the U.S. House of Representatives, and all their pledges to drastically reduce government spending, it is pretty unlikely that the federal government will be jumping in to bail out the States.

So the very guys in State government (especially in California) who are working so hard on the process to try and put us and other wealth-producing activities out of business are about to see the whole process come right around and target their own benefits. How's that for poetic justice?

By the way, I predict that it is just a matter of time (weeks or months), before serious talk will begin on the subject of placing federal pensions on the chopping block.

I also predict there are also going to be thousands and thousands of public employee lay-offs. That's going to start real soon.

What kind of job can an experienced government worker do in the private sector? You guys don't think we have to worry about these (ex)government workers turning violent, do you?

Times are getting more interesting by the day!

tomax

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Re: State pensions in big trouble! ( 02:55:43 SatJan 22 2011 )

What about state disability [prison guards]. Do you know what kind of moneys is going out for that?

beammaker

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Re: State pensions in big trouble! ( 03:08:33 SatJan 22 2011 )

DAVE MACK-----Keep healing old friend.

I am amused at your above thoughts. It truelly will bite them right where it counts. We of the gold game will enjoy seeing the unemployed state and federal folks try to figure how to keep thier personal possesions in tack----after the gravy job and incomes dissapear. We may even see some of them enter into the game.

I have spent the last 1 1/2 years working on a (PRIVATE INDUSTRY)rescue program for our western forests. Can't get the time of day from my congressmen and congresswoman. I hope they will eventually schedule the needed meeting.

This project would definitely take me out of the game---due to the business workload. IT WOULD HOWEVER PUT A LOT OF RESOURCES AVAILABLE TO FIGHT THE WARS AND GET THIS COUNTRY HEADED BACK TOWARDS PERSONAL FREEDOMS, INDIVIDUAL
ACTIVE STARTUPS, AND GAINING CONTROLS OVER THE DISASSEMBLING OF THE ENVIRONMENTALIST RELIGION. We need to make this country the strongest, baddest, and personally
richest on this planet------through individual effort-period!!!!!!

Keep being yourself and fighting for us all.

GOD BLESS ALL MINERS-------BEAMMAKER

markB

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Re: State pensions in big trouble! ( 17:18:50 SatJan 22 2011 )

The word "smug" comes to mind. Nothing worse than a person with authority, with a fat gov. job, smiling when they put their own personal spin on how to interpret law that effects others but not themselves. Take it for fact that smile vanishes when standing in line at the food bank.

UncleMark

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Re: State pensions in big trouble! ( 19:57:23 SatJan 22 2011 )

Very interesting article Dave.

I liked the comment by Mr Loveless about how it is not the fault of the employees unions or retirements that has caused the states to be in financial trouble.

I worked in unions for years. Let me tell you this. Unions were good when America was nothing more than sweat shops. Unions and mandated workers laws are why the American blue collar job market has moved overseas.

One single twenty dollar bill in America will by you one ten dollar an hour employee, and workers comp, matching social security, retirement, etc will eat the rest of that twenty dollar bill, netting you one employee for one hour, or one employee hour.

That same twenty dollar bill in most Asian countries will by you twenty employees for one day, that you can work for more than eight hours, netting you a minimum of 200 employee hours.

one hour versus 200 hours, simple math.

Do you still wonder why corporate America has moved to Asia?

Mark

cubsqueal

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Re: State pensions in big trouble! ( 18:50:27 MonJan 24 2011 )

"We may only have weeks to solve the nation's debt crisis".

Go to "Serious economic problems in the United States" at the bottom of the article. Scary.

http://www.wnponline.org/wnp/wnp1101/prophetic-trends-observed-as-2011-begins.htm

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