TIME's Fareed Zakaria-"Why We Need Pension Reform" [Archive] - Glock Talk

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glockman66
06-17-2012, 21:16
I don't think that you could call TIME MAGAZINE a Republican/Conservative publication and Noel Sheppard of NEWSBUSTERS calls Fareed Zakaria a liberal member of the press .


http://www.time.com/time/magazine/article/0,9171,2117244,00.html
Why We Need Pension Reform
By Fareed Zakaria

glockman66
06-17-2012, 21:17
http://newsbusters.org/blogs/noel-sheppard/2012/06/17/fareed-zakaria-shocker-single-biggest-threat-uss-fiscal-health-public
Fareed Zakaria Shocker: 'Single Biggest Threat to the U.S.'s Fiscal Health' Is Public Employee Pensions
By Noel Sheppard | June 17, 2012 | 17:21

cowboy1964
06-17-2012, 22:15
"Ohio's pension liabilities are now 35% of the state's entire GDP."

Yikes. I realize that probably is decades of liabilities compared to one year's GDP, but still.

walt cowan
06-18-2012, 05:39
then let him turn over his pension to the states general fun and work into his 80's.

series1811
06-18-2012, 07:14
The crux of the problem. Financially, the states and federal government can't afford the future liabilities of these programs. But, poltically, they can't do away with them, or even significantly modify them and get re-elected.

Greece?

aircarver
06-18-2012, 08:01
What's he mean by 'pension reform' ?

'We take yours and give it to somebody else' ?

.

maxsnafu
06-18-2012, 08:03
What's he mean by 'pension reform' ?

'We take yours and give it to somebody else' ?

.

Yes, that's EXACTLY what he means. The welfare class will be the last to be cut off.

RickD
06-18-2012, 08:15
While some on the left would love to raid *private* pension funds, Zakaria is not advocating that in this TimeMag piece. This is all about public sector politics and pushing the cost down the road for political benefits today.

Public-sector unions are strong supporters of the Democratic Party, so their clout has drowned out the voices of the poor, the young, students and average citizens. That is why real credit for courage should go to those few Democrats who are taking on these issues, even at the cost of losing support from one of their key constituencies. That includes mayors like Rahm Emanuel and Chuck Reed as well as governors like Andrew Cuomo and Pat Quinn. Sadly, they are too few and too isolated. Democrats should take note: the ideals of liberalism are now being sacrificed for the interest groups of liberals.

aircarver
06-18-2012, 09:03
Sounds like one of those 'have to pass it to find out what's in it' bills to me .....:steamed:

.

jeanderson
06-18-2012, 11:31
Forget about the mess the states are in, get this: If the United States did their budgeting the way the law requires every private company to do theirs, this year's deficit would have been the equivalent of 88% of every citizen's income.

In other words, if the United States were a private company, everyone would have to fork over 88% of their income to keep it solvent.

As bad as the deficit is, the real horror story is being masked. The 16 trillion you hear about is the current deficit, not counting in long-term entitlement liabilities. Then, yes, there's the problems in the states. Overall, we're screwed!

engineer151515
06-18-2012, 15:26
The crux of the problem. Financially, the states and federal government can't afford the future liabilities of these programs. But, poltically, they can't do away with them, or even significantly modify them and get re-elected.

Greece?

So far, the solution appears to be devaluation of the US dollar.

The .gov't will pay you every dollar they promised, the problem is that the dollar will be worth essentially nothing.

It's obvious to me that future pensioners won't be able to live on their pension amounts. Worthless currency. A form of hidden tax. Since we are heading toward an electronic, paperless currency, you'll be spared the embarrassment akin to printing $10,000 notes and spending them on a single loaf of bread.

Kingarthurhk
06-18-2012, 16:03
then let him turn over his pension to the states general fun and work into his 80's.

That would be fine. But, he probably still wants to funnel that money overseas.

DonGlock26
06-18-2012, 17:42
Yes, that's EXACTLY what he means. The welfare class will be the last to be cut off.

They are feared by the political ruling class.

_

Kingarthurhk
06-18-2012, 18:11
Yes, that's EXACTLY what he means. The welfare class will be the last to be cut off.

If YOU work for a living that negates being welfare.