Yellow | It's not just us...

[Triplex]

For the past century, a public pension was an ironclad promise. Whatever else happened, retired policemen and firefighters and teachers would be paid.

That is no longer the case.

Many cities and states can no longer afford the unsustainable retirement promises made to millions of public workers over many years. By one estimate they are short $5 trillion, an amount that is roughly equal to the output of the world’s third-largest economy.

https://www.wsj.com/articles/the-pe...ates-is-the-size-of-japans-economy-1532972501

 

[SuperCourse]

Don't worry, they'll property tax their way out of it.

 

[Shutter Down]

250 million in big wheel bonuses can’t find 75 million to pay back the pension fund so 30 year plus employees can retire to 2025 when they have to go back to work. Clock in clock out all the work I can do for them.

 

[Canadian Flyer]

I can only shake my head at the fiscal irresponsibility.

 

[jimmy g]

I can only shake my head at the fiscal irresponsibility.

It's the same as Soc Security. About $220 trillion in future debt promises, when all the World's Combined Wealth is a One Time $60 Trillion. Definition of a Ponzi Scheme. Old Guys get Paid. Youngsters get the Bill.

 

[Canadian Flyer]

It's the same as Soc Security. About $220 trillion in future debt promises, when all the World's Combined Wealth is a One Time $60 Trillion. Definition of a Ponzi Scheme. Old Guys get Paid. Youngsters get the Bill.

The world today lives on passing the buck. It's insane how much debt there is.