Utica area Congressman Richard Hanna thinks state pension woes will be the next budget crisis for Washington as there will be pressure to bail out retirement plans that are trillions of dollars underfunded
Rep. Hanna says New York is among the more responsible plans even though here there have been years of pension sweeteners that leave the program funded only through virtue of requiring local governments to pay very large current year contribution for years to come.
Apparently many states, including the President's home state of Illinois, are in more dire shape.
Will state pension crisis be the tipping point? - The Hill's Congress Blog
8 comments:
The only way to keep our country from collapsing is if the Conservative states join forces in congress and squash California, New your, Massachusetts and other taker states. It is going to have to be done just like the drinking age laws were forced on the states. Congress has to threaten to withhold large sums of Federal monies unless the states do as they are told. We only have a few short years left to do this.
If Enron or Wall Street did things the way the states are doing then the libtards would be screaming for regulations. Yet the states are allowed to continue this crooked ponzi scheme and the only remedy talked about is bailing them out and the time comes.
Meanwhile Cuomo removes an SOB pensioned up democrat buddy so he can get another democrat in the pension system.
Maybe this is an over simplified way of looking at things, but the double dipping needs to stop!
Collecting any sort of a pension from any government entity should exclude an individual from working for and collecting a paycheck from that same or any other government agency. It needs to be an either or, no more raking it in at the taxpayers expense!
re: "[NY] is among the more responsible" ... is the same as saying Corzine is more conscientious than Madoff.
OT Abuse--Watertown Fireman....
But there were also years that the municipality didnt have to pay anything into the plan and the employees had to, it was optional and local govts. thought it was going to be this way forever.....
Mayor the guy in the padded shoulders looks like he's crowding you out of the photo! Camera hog..
Nice to see we were able to add Hennessee to the list of fat and happy people ready to retire on the taxpayer's dime.
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