[quote=briansd1][quote=gandalf]That doesn’t make sense. The average employee contributing a portion of their paycheck to pension for 25 years had very little to do with the investing decisions between CitiBank and the State and County Employees of Wherever.[/quote]
As people here know, I’m not crazy about Republicans.
But the public employees contributed too little as did the governments. They could all have assumed a lower rate of return and contributed more.
It’s not like governments didn’t benefit from Wall Street. The promised unsustainable returns of Wall Street enabled governments to overspend.
If there were no Wall Street, governments would have had to set aside larger portions of their annual budgets to pensions.
Now, the government retirees are not hurting. Citizens are suffering from higher taxes and cuts in services.[/quote]
Bullshit. Public employees have been taking pay cuts and making a LOT of concessions over the past few years. Why are some of you so painfully ignorant about that? One has to wonder why the stories about increased employee contributions, pay cuts, benefit cuts, etc. aren’t making it in the news like all the anti-union propaganda. Think that might be deliberate?
