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Old 07-23-2012, 05:04   #1
Ruble Noon
Join Date: Feb 2009
Posts: 11,018
Public Sector Pensions Underfunded by $4.6 Trillion

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Old 07-23-2012, 05:27   #2
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Join Date: Apr 2012
Location: NE Ohio
Posts: 2,543
For years, the government at every level - from the fed down to the municipalities - have setup a system of entitlements that is essentially a Ponzi scheme. It's very easy for a politician today to make promises based on something that will be paid for in the future, with taxpayer dollars. The politician has nothing to lose.

It's all a financial train wreck that will happen very soon. The politicians today are just shoveling more coal into the firebox and the train is just accelerating.
"There is nothing which I dread so much as a division of the republic into two great parties, each arranged under its leader, and concerting measures in opposition to each other. This, in my humble apprehension, is to be dreaded as the greatest political evil under our Constitution."
- John Adams
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Old 07-23-2012, 06:55   #3
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Location: Texas
Posts: 5,306
Come on now, you know public unions aren't the problem. People on this forum tell us all the time.
Now who has some pictures of firemen saving puppies or cops rescuing hostages?

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Lew Horton Springfield Compact 1911
Springfield Loaded
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Old 07-23-2012, 07:08   #4
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Nothing to worry about, the gubmint will provide.

Thanks kids!
The politicians added another $4.8 billion to our debt today.
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Old 07-23-2012, 12:47   #5
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Join Date: Jan 2009
Location: Crossroads of America
Posts: 5,592
Interesting website. At this link scroll down to the second paragraph and click on the link to the David Stockman interview. One of the best overviews I've seen of where the fed is leading us. Right up there with Harry Dent and Peter Schiff.

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"They that can give up essential liberty to obtain a little temporary safety deserve neither safety nor liberty." Ben Franklin
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