Madeline
Rookie
- Banned
- #201
Wasn't paying attention Madeline, sorry. Should the shit hit the fan I believe many of the Contracts will become void and have to be renegotiated. Bond's fail.
I will tell you one thing I see with the Government Union Contract's both State and Federal, when it comes to the last two years before retirement, workers tend to manipulate all the overtime they can to effect their Pensions. You have retired workers making more in pensions, than they did when they actually worked. This is a scheme, from my perspective, a scam on the system. Many jobs in the private sector are Salaried, where there is no overtime. You work what is required because that is what you were hired to do. That is one solution. Another solution is to base pensions on base pay, excluding overtime. News flash Madeline, Retirement Benefits is one of the largest burdens on government.
Yes, I know, Intense. And thankies to the way the obligations could be manipulated, many a legislature artifically depressed the annual contribution obligation. Add that to the stock market tanking, and it's a recipe for disaster for many states and municipalities.
We have seen less than honest manipulation of the rules here too, most noticeably, double dipping (getting both a current salary and a retirement benefit). I agree, the rules need to be tightened up but that's a drop in the bucket in the face of the problem.
How about a suggestion? Let's protect retirement benefits under a set amount....say, the first $20,000 a year. Convert all excess benefits owed to individual retirement accounts and whatever they can pay out, they will. Use only 401(k) style benefits in the future. (I have no idea if these numbers work; it's just the concept of protecting low wage earning retirees that I am floating.)
Does that seem fair?
Yeah, it does. Spending has got to be reduced. If it isn't the value of the dollar will be hurt more, and that will effect the poorest of us the most. Properties are going at fire sale prices, Pennies on the dollar. Look at who's buying them up and tell me what you think.
What is your perspective on all of the Government bailouts and who's profiting from it, both directly and indirectly? Who win's and who get's the tab.
California will alway's need more energy infrastructure, Water too. Much water is lost to evaporation, with open canals. Thinking of Government programs that actually will improve quality of life, that is one. Flood control is another. When the time is right to put people to work, those are good ways to do it.
I will alway's love California Madeline. I went through allot there. It is the only Virgo State you know.![]()
I agree, California is beautiful and well worth saving. That Pacific Coast Highway is just breath-taking. And whatever works in California may work in Illinois, New York, Indiana, Ohio.....all states in almost as bad shape.
Are you asking me if the federal government should bail out the states? Certainly not entirely, Intense. I think it might be worth discussing having the feds guarantee a restructured state bond debt, to prevent the cost of borrowing from skyrocketing for them in the future....but to pay every dollar owed? No....and I do realize the money owed to doctors and hospitals under Medicaid, and how deeply that will wound everyone.
I think the key to any successful restructuring has to be public confidence. That the proposal -- whatever it may be -- will work. That once it is over, things will get better. In that regard, I am a little interested in allowing the states to go bankrupt....it seems as if it might add a bit of certainty that a purely legislative process would lack. (Still not sure how that could happen; I think a constitutional amendment might be needed.)
