Most pension funds and retirement plans are heavily invested in the stock market. If we were to see a major financial crisis like we saw back in 2008 it would be absolutely devastating. Millions of Americans could see their retirement plans wiped out in short order.
Once again, please do not place your faith in the system.
If you do, you are likely to end up holding a bag of broken promises.
A gigantic tsunami of unfunded pension obligations is coming. A lot of state and local governments are going to go broke. A lot of promises are going to be broken.
If you hope to retire any time soon, you better plan on being able to take care of yourself.
But at least most state and local government employees are still covered by pension plans, even if they are failing.
In the private sector, pension plans are vanishing at lightning speed.
According to the Boston College Center for Retirement Research, the percentage of workers in America covered by a traditional pension plan fell from 62 percent in 1983 to 17 percent in 2007.
That isn’t just a trend.
That is a tidal wave.
PSERS had an accrued unfunded liability of nearly $26.5 billion, the amount of money the fund is short to cover existing retirement benefits. That hole is expected to grow to $43 billion by 2019. SERS is $12.5 billion in the red, and that shortfall is expected to climb to nearly $18 billion by 2018. Unless the stock market makes giant sustained gains, taxpayers will have to refill those funds.
If Ron Paul doesn’t get elected, we should create our own country and make Ron Paul our president.
look how it hapens!
now you fucking know how it happened in germany it just happend here and we all just standing here with our mouth open duh what happens when they ban beer? nascar? driveing? every thing is illeagal now how did you get here?
how did you not notice ? mabe so busy scrapeing a buck? if you dont work you dont own anything,as in you have to pay property tax even if you own the land outright so if you have 0 income you can not be free you have to be taxed in order to be free
And did you notice what is being blamed for the financial problems in Stockton?
Pension and healthcare benefits.
Sadly, we are seeing pension nightmares erupt all over the nation right now.
For example, check out what is happening to the Public School Employees’ Retirement System and State Employees’ Retirement System in Pennsylvania….
On March 31 2012. As soon as you can email, skype, twitter, all day. BOMBARD THEM.
Contact every major television network with your own personal support message for RON PAUL. These networks WONT give RON PAUL fair & balanced coverage, then we will take the RON PAUL message to them.
Ask your family, friends, colleagues to join in. Ask them to contact their friends to do the same.
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THE BIGGER THE NOISE, THE BIGGER THE ECHO.
Exactly! NO MONEY! Let the UN fund these atrocities that they ‘approve’.
All over the country, state and local govt’s are going broke,following is from a recent article by Duff McDonald
Alabama’s Jefferson County has actually gone bankrupt.Stockton,California is all but ready to do the same. And all you have to do is look to Detroit—or any of the nearby auto towns named after a Buick model of one sort or another—and you see fiscal crisis playing out right now. Look in your own backyard,or at the potholes on your neighborhood roads—and you will likely find the same.
Ron Paul has been doing these weekly updates for ages. Goes to show how consistent the man is
Check out what Pensacola Mayor Ashton Hayward said about the situation in his city recently….
“When our annual pension liability is more than our yearly property tax revenues, we have to do something”
The failure of the other candidates and their followers (which is the vast majority of citizens I am sorry to say) to realize exactly what Dr. Paul just said, leads me to believe their will be no avoidance of a monetary calamity and WW3. Blindly, stupidly, we are willfully going to destroy our once free and prosperous Republic.
“There is no avoiding war; it can only be postponed to the advantage of the enemies.”
My daughters grew up here, went to school here. It’s all gone,” said Mike Geoffroy, a retired firefighter.
He said he could not make the payments on his house after his pension was cut by $1,100 a month.
When will the math catch up with the city where you are living?
For years and years most of our state and local politicians have been ignoring this problem.
Some local governments around the nation are already declaring bankruptcy and are either eliminating pensions or are cutting them very deeply. Just check out what just happened in Central Falls, Rhode Island..For years, city officials promised robust union contracts and pensions without raising revenue to pay for them. Last August, the math caught up with them. Central Falls was broke, its pension fund short $46 million. It declared bankruptcy.
everywhere i go i hear absolutes, isnt there anything good obama did? isnt there anything good the other republican candidates could do?
Ron paul has a plan to fix what I just typed below,If you vote for romney,newt,santorum or obama ,you people will be the cause of all the RP supporters losing their pensions and higher taxes…Think about it,this effects all of us! Start thinking about America,it is crumbling down as we speak.
EXPOSE THE RIGGED VOTE COUNTS NOW!!
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