And Why not?? It has been on the dart board all along....

Another lovely lot of Loot waiting to be sucked dry - if not completely already... I don't think America stands alone in this coming crisis - the whole world will suffer this. Lol - I officially retire next year and my gubment will give me a penshun?? Lol. Nope, as they had to buy Merc's and BM's and land for themselves last year with that little reserve! Just as well I am healthy and can work still - for myself!


Are States’ Pensions the Next Crisis?
Thursday, April 28, 2011





Virginia’s News & Advance reports, Are States’ Pensions the Next Crisis?:

Just as America is finally showing signs of digging out of the financial meltdown and the Great Recession of 2008, there are already warning bells being sounded for the next possible scare: government pension programs.

Earlier this week, the Pew Center on the States issued the results of its fiscal stress test of the 50 state pension programs, and the results are troubling to say the least.

All told, the Pew center estimates that government pension funds and health care programs are underfunded by more than $1.2 trillion today, a clear sign that something must be done now to avoid a great deal of misery down the road.

Though the Pew study looked at pension funds during 2008 and 2009, the depth of the Great Recession, the results should serve as a wake-up call to political leaders across the nation, including here in the Commonwealth of Virginia.

The Pew center reports that 31 states are funding their government pension funds at levels below the point most experts consider safe, 80 percent of the plans expected needs.
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http://pensionpulse.blogspot.com/

This is one of the hammers over our heads; our sole source of income at this point in our lives is DH's NY state employees' pension, and our SS, his and mine.... What a disaster - to have to count on gov't for our livelihood. Yes, we have hunters, fishermen (and women) and gardeners in our family, but that won't pay the mortgage, taxes, property insurance..... Ah well, the whole global economy is coming down soon anyway. Everybody will be in the same boat.