Starkiller Posted August 7, 2020 Report Share Posted August 7, 2020 13 minutes ago, El Guapo said: Which they never fund. Budget and government is a joke. Give me a break. Which government pensions have gone unpaid? Link to post Share on other sites More sharing options...
El Guapo Posted August 7, 2020 Author Report Share Posted August 7, 2020 Not unpaid. Unfunded. Link to post Share on other sites More sharing options...
pat Posted August 7, 2020 Report Share Posted August 7, 2020 3 minutes ago, El Guapo said: Not unpaid. Unfunded. You're going to need to bring the receipts on this. Cuz it sounds an awful lot like "let's not fund local governments that depend on sales tax after the pandemic shutdown retail" Link to post Share on other sites More sharing options...
El Guapo Posted August 7, 2020 Author Report Share Posted August 7, 2020 They were unfunded before covid. Jesus, come on guys. This is not an opinion. Link to post Share on other sites More sharing options...
El Guapo Posted August 7, 2020 Author Report Share Posted August 7, 2020 https://www.google.com/amp/s/www.forbes.com/sites/chuckdevore/2019/05/31/5-2-trillion-of-government-pension-debt-threatens-to-overwhelm-state-budgets-taxpayers/amp/ Link to post Share on other sites More sharing options...
Starkiller Posted August 7, 2020 Report Share Posted August 7, 2020 15 minutes ago, El Guapo said: Not unpaid. Unfunded. Your argument is ridiculous. It’s called a budget. Look into it... Most of what a government does is “unfunded” by your criticisms. They don’t pre-fund most of what they do years in advance. Why would they? The alternative to pensions is paying more now in the form of a 401k. How are governments going to afford to shift future pension payments into 401k payments today? Link to post Share on other sites More sharing options...
El Guapo Posted August 7, 2020 Author Report Share Posted August 7, 2020 These pensions are and always were too generous. That was an issue pre covid. Asking for relief by the feds under the cover of covid is slimey as hell . But hey, I wont change your mind. As has been said, under socialists, one eventually runs out of someone else’s money Link to post Share on other sites More sharing options...
pat Posted August 8, 2020 Report Share Posted August 8, 2020 1 hour ago, El Guapo said: https://www.google.com/amp/s/www.forbes.com/sites/chuckdevore/2019/05/31/5-2-trillion-of-government-pension-debt-threatens-to-overwhelm-state-budgets-taxpayers/amp/ Per the linked graph, NY is not on the list So why was it denied funding to cover the revenue shortfall caused by COVID? Link to post Share on other sites More sharing options...
Number9 Posted August 8, 2020 Report Share Posted August 8, 2020 https://www.justfacts.com/nationaldebt.asp $80,367 for every person living in the U.S.[7] $206,293 for every household in the U.S.[8] 126% of annual U.S. economic output.[9] 7.2 times annual federal revenues.[10] 63% more than the combined consumer debt of every household in the U.S.[11] We know which party loves to run up the debt. It's all out of wack, but deciding to allow bigger thieves to fix it is not the correct solution. It'll be just like the great new healthcare bill. Better coverage and cheaper. Link to post Share on other sites More sharing options...
No1TitansFan Posted August 8, 2020 Report Share Posted August 8, 2020 A very large percentage of the local bailout money in the Dem's bill was earmarked specifically for schools to help make them Covid safe. IsntLifeFunny 1 Link to post Share on other sites More sharing options...
nine Posted August 8, 2020 Report Share Posted August 8, 2020 2 hours ago, Number9 said: https://www.justfacts.com/nationaldebt.asp $80,367 for every person living in the U.S.[7] $206,293 for every household in the U.S.[8] 126% of annual U.S. economic output.[9] 7.2 times annual federal revenues.[10] 63% more than the combined consumer debt of every household in the U.S.[11] We know which party loves to run up the debt. It's all out of wack, but deciding to allow bigger thieves to fix it is not the correct solution. It'll be just like the great new healthcare bill. Better coverage and cheaper. They should just borrow the money to pay off the debt! Number9 1 Link to post Share on other sites More sharing options...
GOAT9 Posted August 8, 2020 Report Share Posted August 8, 2020 Underfunded pensions is a big issue. It means that none of the participants retirements are guaranteed. The reason there has been a shift to 401k over the years is because it places the management and liability of individuals retirement on them. With pensions the organization is responsible and liable for the management of the funds for all participants. Pensions are good when managed correctly. Unfortunately they have been abused for decades. IsntLifeFunny 1 Link to post Share on other sites More sharing options...
IsntLifeFunny Posted August 8, 2020 Report Share Posted August 8, 2020 (edited) 9 minutes ago, GOAT9 said: Underfunded pensions is a big issue. It means that none of the participants retirements are guaranteed. The reason there has been a shift to 401k over the years is because it places the management and liability of individuals retirement on them. With pensions the organization is responsible and liable for the management of the funds for all participants. Pensions are good when managed correctly. Unfortunately they have been abused for decades. This is on the cities and states. It has nothing to do with Covid money being spent by every state. This isn’t some gotcha, but the Administration declared Florida and Texas will continue receiving full funding for their state regarding testing because their governors called the president. The rest of the states will now have to take over 25% when their sales tax revenues have flatlined. Nothing is hard to understand here. Kiss the ring and grovel or get fucked. That isn’t how this is supposed to work. Edited August 8, 2020 by IsntLifeFunny Number9, and pat 2 Link to post Share on other sites More sharing options...
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