Quote:
Originally Posted by Barefootsies
It happens in the private sector all the time, whether right or wrong. Few offer pensions.
If the general public thinks that civil servants should have better benefits that can never be touched compared to the private sector business, they should have no problem paying extra taxes for that 'guarantee'. However, if Joe Blow tax payer does not want to pay for it, then it should be cut or law (in this case) repealed.
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Joe Blow tax payer never wants to pay higher taxes. Civil servants take those jobs because of the pension. They were offered the pension and accepted. Yes they need to look at the new people and make a matching plan or something. BUT it is not like this problem wasn't foreseen 20 years ago. The bond investors knew about this problem. None of this is new and the lawyers will get rich fighting it out.
The simple facts are that people live longer then they used to and there is less fat in any budget. So you have to quit paying people for life. We have hit the wall and now we will solve the problem hopefully. Or Bernake will inflate the fuck out of this shit, and we can all go back to our ignorance.