Unfunded Pension Liability

I've been warning on pensions as long as I have been blogging, Wisconsin public unions lost their rights, and now Kansas is planning on cutting back, a wee bit.  This is just the start.  It will expand and get to the point where people will regret they took a government job.  It's a matter of going after the low hanging fruit, and government workers and their pensions are the easiest targets.  They have no allies outside of government, so to whom will they appeal?  The Republicans?

I figured Wisconsin the game was lost in Wisconsin when the teamsters backed govt unions.  In the 1980s, the truckers (teamsters) pensions were largely wiped out (and I suspect Hoffa was murdered for his objection) and nary a peep from the truckers in defiance.

With Obama everyone should realize it is not just a matter of getting the right person in office.  Even if Hillary is president in 2012, government workers and their pensions are sunk.

The powers that be will get around to every pension there is, since there is not enough in all pensions to cover what was stolen by the bankers. If you are depending on a pension in old age, forget about it.  Start a business now, so you'll live better.  Having something to trade is having options.

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