The really bad news is that most of these pension funds are assuming an 8% annual return. Bwaaaahhhhaaaaa!!!!
Insert a realistic 4% into those little models and the unfunded liability shoots through the top of this little chart like a rocket ship.
Math is hard. Check out your state. Are you willing to have your state tax rates tripled in order to pay the pensions and healthcare benefits of state government workers? It’s really that simple.
I suggest that the next president be from the group of whoever was responsible for handling pensions in Florida, Nebraska, South Dakota, or Wisconsin.
With doom there are no pensions. Im waiting for a big animal food producer to make something like,dog/human food in fifty pound bags.Soylent green for the masses.
Unfunded pensions aren’t pensions, they’re debts. The debts will never be paid, not the pensions, not the $16 trillion. Oops, sorry union government drones. Get your pound of flesh from your local politician, union boss and lobbyists.
He who makes the rules is king.
[img]http://thepeoplescube.com/peoples_resource/image/14140[/img]
AKAnon
I hope you weren’t counting on that pension.
Rocket ship? Dude, that is so, like, 1950s!!
We are well into instaneous matter transportation straight to DOOM here!
Scotty!
Beam me up! There is no intelligent life here!
On Wisconsin!
I will not comply.
@AWD: if you can get the union drones to realize the reason they won’t get those “pensions” and motivate them to do something about it, I’ll be sitting next to you handing out pitchforks and torches.
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Admin-I can’t say I wasn’t hoping, but no, I’m not counting on it. Disturbing to see how bad off AK is. I’ll be sucking hard if I don’t get the house paid off before the big reset, but I have back-up plans. The key is to stay healthy-healthcare is going to be the killer. I dropped 35 pounds last fall & winter, down to 190, but I’ve been slacking off on the exercise & creeping back close to almost 200 (at 6’2″), my new max weight. Time to cut back on the brew and have another sliced tomato.
Admin, what is the source of this graphic? I got to thinking about this-how the hell is Wisconsin, the birthplace of progressive, union labor, so damn good? I found the following-as of 2008, it shows Wisconsin not nearly so favorable. If Walker has turned this around that effectively, he ought to be POTUS, not Gov. Somebody’s data looks screwy.
http://www.intellectualtakeout.org/library/chart-graph/pension-burdens-state-and-rank-fy-2008?library_node=68225
AKANON:
“The key is to stay healthy-healthcare is going to be the killer.”
Sir, you are most correct. Eat healthy, exercise often, chelate your body with EDTA if you can afford it, and take natural supplements. Drink and cook with purified water, the most healthy being distilled water. These things should become daily routine for those who have reached 60 and above.
AKAnon
It is from a Mauldin article from 2010
http://www.marketoracle.co.uk/Article21718.html
Thanks Jim. Weird-my source shows WI 2nd highest pension (estimated max) as percent of GDP in 2008, Mauldin shows WI as 4th from lowest burden in 2010. Either someone is using different numbers or WI paid down one shit load of unfunded liabilities. The latter is hard for me to believe. Either way, doesn’t improve my lot, which shows AK near the top of the list in both charts. On the brighter side, AK has natural resources-if we are allowed to extract them, we will at least have a GDP.
AKAnon
Until the Russians invade and take your resources.
Wisonsin has the fourth highest state tax burden in the nation (according to taxfoundation.org), that is how they stayed funded. Now South Dakota, 48th highest tax burden, and good pension shape hats off to S.D.
“Always with the negative waves, Moriarty, always with the negative waves.” Besides, RE says I’m safe behind the mountains-nature’s fortress.