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Maybe it is time to go to work for the gubment......

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    #1

    Maybe it is time to go to work for the gubment......

    US state pensions becoming federal issue
    http://www.ft.com/cms/s/0/b9d90504-6379-11df-a844-00144feab49a.html


    "Estimates put the unfunded liabilities at between $1,000bn and $3,000bn after years of states promising benefits but not contributing enough in both good times and bad to cover them."

    $1-3 Trillion in unfunded pensions liabilities? What a fucking joke. The vast majority of private employees have to actually save their own money for their retirement, and now those of us who are responsible for ourselves are yet again going to be stuck with the bill.

    Gotta love Unions!

    "Mr Rauh said such measures were cosmetic and states needed comprehensive, federally sponsored reform that would require closing the systems to new members, shifting state workers to Social Security and individual plans similar to those that are used by the private sector in order to obtain incentives to borrow to bridge the gaps."

    Yeah, shift more people into a program that is already doomed to bankruptcy.

    If it wasn't so cold in Canada......
    Need parts now? Need them cheap? steve@blunttech.com
    Chief Sales Officer, Midwest Division—Blunt Tech Industries

    www.gutenparts.com
    One stop shopping for NEW, USED and EURO PARTS!

    Tags: None
    #2
    Canada? As if they were better off.
    Im now E30less.
    sigpic

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      #3
      The Canada comment was tongue-in-cheek.
      Need parts now? Need them cheap? steve@blunttech.com
      Chief Sales Officer, Midwest Division—Blunt Tech Industries

      www.gutenparts.com
      One stop shopping for NEW, USED and EURO PARTS!

      Comment

        #4
        Not much giant hail in Canada...

        Closing SOON!
        "LAST CHANCE FOR G.A.S." DEAL IS ON NOW

        Luke AT germanaudiospecialties DOT com or text 425-761-6450, or for quickest answers, call me at the shop 360-669-0398

        Thanks for 10 years of fun!

        Comment

          #5
          Originally posted by z31maniac View Post

          Gotta love Public employee Unions!

          ".....
          there had to fix that a little for you. While there are some of the Trades that are right in there with the carply funded pensions. most of the TRADES are sitting pretty good.
          Originally posted by Fusion
          If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
          The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


          The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

          Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
          William Pitt-

          Comment

            #6
            Nope, I dislike all Unions.
            Need parts now? Need them cheap? steve@blunttech.com
            Chief Sales Officer, Midwest Division—Blunt Tech Industries

            www.gutenparts.com
            One stop shopping for NEW, USED and EURO PARTS!

            Comment

              #7
              Originally posted by z31maniac View Post
              Nope, I dislike all Unions.
              I know you do, (do we need to have this fight again) just saying some are not as bad as others. and that some really are not that bad.
              Originally posted by Fusion
              If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
              The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


              The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

              Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
              William Pitt-

              Comment

                #8
                actually canada is in much better shape financially
                “There is nothing government can give you that it hasn’t taken from you in the first place”
                Sir Winston Churchill

                Comment

                  #9
                  SEIU is the beginning of the end for this country.

                  Unions in general are very poor for this country.
                  The original idea was a good one but now Unions are controllers of politicians. UAW...that is why GM took a shit.
                  Your signature picture has been removed since it contained the Photobucket "upgrade your account" image.

                  "I cannot undertake to lay my finger on that article of the Constitution which granted a right to Congress of expending, on objects of benevolence, the money of their constituents. Charity is no part of the legislative duty of the [federal] government." ~ James Madison

                  ‎"If you've got a business, you didn't build that. Somebody else made that happen" Barack Obama

                  Comment

                    #10
                    Originally posted by gwb72tii View Post
                    actually canada is in much better shape financially
                    This is true, Brazil as well.

                    They didn't have the exposure to all the toxic securities like the rest of the world. Hence their vehement opposition to a "Financial Transaction Tax" or whatever they are calling it.
                    Need parts now? Need them cheap? steve@blunttech.com
                    Chief Sales Officer, Midwest Division—Blunt Tech Industries

                    www.gutenparts.com
                    One stop shopping for NEW, USED and EURO PARTS!

                    Comment

                      #11
                      Originally posted by joshh View Post
                      SEIU is the beginning of the end for this country.
                      I am a member of this Union - Local 1000 for employees of the State of California. When I landed my job with the state in Dec 2008, I had to join this BS union as a rank-and-file employee, no op-out. $50/mo of my monthly check goes to these jokers and I am not even remotely happy about it. To get away from it I need to promote up two levels to get into management, they are exempt from mandated SEIU involvement/contributions.

                      As for public employee pensions, I see this in the same light as Social Security. By the time I'm ready to retire (~20-25 years), I will be lucky to have money waiting for me. As a state employee I am obligated to contribute to the state pension fund....but I only put in the absolute minimum that is required. I will invest my money elsewhere in my own portfolio where I have more control over its activities. The days of "put in 20 to 30 years w/ xyz govt agency = cush retirement" are long gone. The only thing I appreciate about my state job is that I have stable work and benefits in this uncertain job market. I have Governor's orders to take 3 furlough days a month which means a 14% pay cut, but I have a job that pays the bills. And that...despite all the bureaucratic bs I have to contend with...is a blessing right now.

                      Jon
                      Rides...
                      1991 325i - sold :(
                      2004 2WD Frontier King Cab

                      RIP #17 Jules Bianchi

                      Comment

                        #12
                        Um Canada and Brazil are both huge exporters of oil, its really helping to hold them both up with a real profitable exports en mass.

                        jon I feel really bad SEIU is one of the most corrupt and despicable Unions out there, every other union member of many many different trades hate the SEIC and UAW.

                        I really am sorry you are in a union that dose not look out for it memebers (like they are supposed to do) and is nothing more than political tool for the destructive liberal/progressive/democrats.
                        Originally posted by Fusion
                        If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
                        The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


                        The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

                        Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
                        William Pitt-

                        Comment

                          #13
                          Canada and Brazil banking is healthy because of the "risk averse" stance taken over the last decade.

                          Again, if you were as valuable as you think you are, you wouldn't need a Union. Plain and simple.
                          Need parts now? Need them cheap? steve@blunttech.com
                          Chief Sales Officer, Midwest Division—Blunt Tech Industries

                          www.gutenparts.com
                          One stop shopping for NEW, USED and EURO PARTS!

                          Comment

                            #14
                            Originally posted by z31maniac View Post
                            Canada and Brazil banking is healthy because of the "risk averse" stance taken over the last decade.

                            Again, if you were as valuable as you think you are, you wouldn't need a Union. Plain and simple.
                            I am 1st called an last laid off, and when there is a short gap, I work some of the non union billed jobs. I have a job with my company either way.
                            Originally posted by Fusion
                            If a car is the epitome of freedom, than an electric car is house arrest with your wife titty fucking your next door neighbor.
                            The American Republic will endure until the day Congress discovers that it can bribe the public with the public's money. -Alexis de Tocqueville


                            The Desire to Save Humanity is Always a False Front for the Urge to Rule it- H. L. Mencken

                            Necessity is the plea for every infringement of human freedom. It is the argument of tyrants.
                            William Pitt-

                            Comment

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