Wednesday, April 22, 2009

The next financial crisis

all of the government workers have been counting on this.

after all, this was one of the few perks to that low paying government job.

almost 50% of the population is affected by this - since this affects federal, state, city and local government services, including police, teachers, administration, roads and public service workers, etc.

Anyone want to bet $10.00 against me that this will be a bailout inside 10 years?

Before you take that bet - I'd remind you that each member of Congress has a bias to, and vested interest in, voting FOR a bailout - it's their pension plan - it's just like they vote themselves pay raises.

PUBLIC PENSION DEFICIT A CONCERN – What is the deal here? Has everybody been asleep? A current article proclaims that investment losses from the current financial crisis have significantly eroded the funding status of public pension plans, affecting entities from school districts, to local governments, to state governments, and there is growing concern that increasing deficits in public plans will force taxpayers to make up for the shortfall.

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