Because pension funds all over the country, in fact all over the developed world, have promised far more to the pension holders than the funds will ever be able to deliver. All of these issues - private and public pension funds going bust, Social Security going bust, Medicare going bust, health insurance premiums going through the roof - are rooted in the dramatic increase in life expectancy in the developed world since the middle of the 20th century.
Because of increased life expectancy, as well as the breakdown of traditional family structures, the programs that were put into place in the early 20th century have become totally unsustainable. We are headed for a mid-century financial meltdown in the developed world. The Democrats have their heads in the sand right now on the whole thing, and the President has only made limited proposals on Social Security. No one has addressed any of the other issues at all, and the people who are blocking reform at the moment will all be dead by then, so they don't care about it. >Gruss Gott wrote: >> >> Next, we can look forward to the State and Municipal workers pension >> bailout since just about every city and state in the union will soon >> default on their pension promises. > >Why would they suddenly default? > >Jochem ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Purchase Contribute 3 from House of Fusion, a Macromedia Authorized Affiliate and support the CF community. http://www.houseoffusion.com/banners/view.cfm?bannerid=53 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:157661 Archives: http://www.houseoffusion.com/cf_lists/threads.cfm/5 Subscription: http://www.houseoffusion.com/lists.cfm/link=s:5 Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5 Donations & Support: http://www.houseoffusion.com/tiny.cfm/54
