THESE ARE SCARY, SCARY NUMBERS
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Just out of hand irresponsible nut jobs running the show. Read this:
While the Senate Banking Committee last week spun its wheels trying to get JP Morgan chief Jamie Dimon to admit to something nefarious during testimony about his “London Whale” trading loss, executives at the big bank were concealing a far bigger scandal.
OK, it’s no secret that nation’s public pension funds are in big trouble, holding large “unfunded” liabilities owed to public workers once they retire. But most politicians (New Jersey Gov. Chris Christie is an exception) will tell you the problem is fairly containable, that there are simple fixes — such as raising taxes on the rich or pruning benefits.
Not so, warns a “strictly confidential” report JP Morgan issued last year. It describes in straightforward, frightening detail how underfunded pensions are huge ticking timebombs for many of the nation’s big cities and states.
SOURCE: https://www.nypost.com
Well it may be true some public pensions are underfunded but I tend to think many others are just fine. Both my Aunt and Uncle retired from state government jobs in the very liberal state of Connecticut.
Between the both of them they are pulling in about $9000.00 a month of the states taxpayers. That is fact. I might also add neither were at the top level in their job descriptions. My Aunt was a supervisor for the welfare dept and my uncle worked for the states transportation dept which basically tool care of road pot holes in the summer and plowed the same roads in the winter.
I dont have a guess on how many are fine…but I have read too many that are a joke.