muck Posted March 4, 2009 Share Posted March 4, 2009 (edited) :puke: Edited March 4, 2009 by muck Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 4, 2009 Share Posted March 4, 2009 What? They aren't insured by AIG? Quote Link to comment Share on other sites More sharing options...
Jimmy Neutron Posted March 4, 2009 Share Posted March 4, 2009 Again, it's very reassuring we're looking to government to solve the economic crisis. This room is getting crowded with pachyderms. While Obama has mentioned medicare and SS reform, he's given no hint of just how hugh the problem is or how he plans to solve it. Add the city, county, state and federal pensions.... and unfunded pensions from the private sector that will undoubtedly surface.... Quote Link to comment Share on other sites More sharing options...
Caveman_Nick Posted March 4, 2009 Share Posted March 4, 2009 This is a big problem in MA, and the gubment tries to hide it by not representing it as a part of the "operating budget" Quote Link to comment Share on other sites More sharing options...
Kid Cid Posted March 4, 2009 Share Posted March 4, 2009 I thought that it was interesting that both Obama and McCain during their debates, just sort of pooh-poohed the whole Social Security debacle. Their take was that it was so easy to fix that they couldn't even be bothered to talk about it. This is just another shining example of why politicians should not be allowed to handle money. Quote Link to comment Share on other sites More sharing options...
CaP'N GRuNGe Posted March 4, 2009 Share Posted March 4, 2009 I thought that it was interesting that both Obama and McCain during their debates, just sort of pooh-poohed the whole Social Security debacle. Their take was that it was so easy to fix that they couldn't even be bothered to talk about it. This is just another shining example of why politicians should not be allowed to handle money. Social Security is easy to fix. The fix is one nobody wants to do however as it involves upping the withholding and probably means testing on payouts. Medicare is supposed to be the even bigger mess. Quote Link to comment Share on other sites More sharing options...
darin3 Posted March 4, 2009 Share Posted March 4, 2009 The nation’s largest public pension fund, California Public Employees’ Retirement System, has been reporting an expected rate of return of 7.75 percent for the past eight years, and 8 percent before that, according to Calpers spokesman Clark McKinley. 2008 was the first year ever that it experienced a net loss. I can attribute personal loss to this occurrence. Quote Link to comment Share on other sites More sharing options...
muck Posted March 4, 2009 Author Share Posted March 4, 2009 Social Security is easy to fix. The fix is one nobody wants to do however as it involves upping the withholding and probably means testing on payouts. Medicare is supposed to be the even bigger mess. Replace the strike with "increasing the eligibility ages so that people born after 1968 (i.e., those under 40) are not eligible until they reach 85 or 90 and means-testing payouts, and if needed, upping the withholding". ...I'm sure that's what you really meant to say, CG... Quote Link to comment Share on other sites More sharing options...
muck Posted March 4, 2009 Author Share Posted March 4, 2009 2008 was the first year ever that it experienced a net loss. I can attribute personal loss to this occurrence. I don't think you should blame yourself for Calpers losing so much money, Darin. It's not healthy. Quote Link to comment Share on other sites More sharing options...
dmarc117 Posted March 4, 2009 Share Posted March 4, 2009 this will cause the fall of society. govt workers and unions will strike when they find out they have nothing for retirement. cities will grind to a halt when all services slow or stop. good times ahead! sell gold and buy bullets! Quote Link to comment Share on other sites More sharing options...
Yukon Cornelius Posted March 4, 2009 Share Posted March 4, 2009 this will cause the fall of society. govt workers and unions will strike when they find out they have nothing for retirement. cities will grind to a halt when all services slow or stop. good times ahead! sell gold and buy bullets! usually the fall of a society is caused by the neglect of the poorer and middle class citizens. but hey who needs history anyway. Quote Link to comment Share on other sites More sharing options...
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