Pensions At Risk?
Posted by deleted 9 years, 9 months ago to Government
Why is it when state and local governments paint themselves into a financial corner, the default statement is always, "pensions at risk" or "may curtail police/fire/ambulance protection/service", but never "entitlement programs may be frozen at current levels or benefits reduced"? The pensions in my opinion should be sacred cows because the recipients have already held up their end of the bargain, and are usually not in a position to up and renew their careers. Further, public services have already been paid for in the form of property taxes, and the taxing authority I'm sure has no intentions of reducing said taxes in line with service reductions.
All Comments
- 1Posted by $ jbrenner 9 years, 9 months ago in reply to this comment.Queen Nancy's proposal will come back before I retire.Permalink|
- 2Posted by SaltyDog 9 years, 9 months ago in reply to this comment.Queen Nancy floated that idea a few years ago. The idea was that since SO many people were losing SO much money in their IRAs, Roths, 401(k) and 403(b) plans, in short all qualified money, that the Congress felt that it would be in the people's best interest that all of this money should be invested in US Treasury Bonds. This would have effectively nationalized ALL retirement plans. As far as I know, that idea isn't dead yet.Permalink|
- 1Posted by $ jbrenner 9 years, 9 months agoPensions and IRAs will be at risk. You may remember a few years ago the looters' trial balloon to raid 401k's.Permalink|