> Jochem wrote: > But the way I see it Gruss Gott's conclusion that State and Municipal pension > funds are soon
It's not coming out of thin air, it's been happening for decades. The exact same thing has been happening there as with Social Security it's just that, as a matter of law, states and city's don't need to disclose their liabilities so they don't. Each mayor or governor passes the red ink on to the next one and none of them want to do anything to fix it because it would mean higher taxes, which would mean no re-election, so they just pass on the problem. And there is a proposal to change the accounting standards so that citizens can start seeing the problem. George Will's Op-Ed mentions this and there's a great piece about it here: http://www.fortune.com/fortune/articles/0,15114,1050835,00.html ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Find out how CFTicket can increase your company's customer support efficiency by 100% http://www.houseoffusion.com/banners/view.cfm?bannerid=49 Message: http://www.houseoffusion.com/lists.cfm/link=i:5:157684 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
