I don't have a problem with government workers having a pension, but I do have a problem with how those pensions were granted.
In the state of California, legislators hand out benefits to the unions and then, at election time, the unions deliver money and votes to get the politicians re-elected. The politicians then raise taxes and give more benefits to the unions and then, come election time, the unions deliver money and votes to the politicians... And round-and-round it goes to the point that the state is insolvent.
In California, the unfunded pension liability is estimated at between $300B and $500B, depending on whose numbers you look at. By 2030, public employee retirement benefits will consume over 25% of the entire state budget; and by 2055, it's projected to consume over 50% of the entire state budget.
The writing is one the wall. In 2010, 193 companies either moved out of California, or moved a significant part of their operations to other states. The latest unemployment numbers show California unemployment at 12.5%. "U6" unemployment is over 20%.
Anyone who can do basic math can see that this train is going to run off the tracks.
Quote from Scataphagos:
I feel nothing but REVULSION for tit-sucking unionized government emplyees whose retirement is "guaranteed" by taxpayers who themselves may have no retirement benefits themselves. Don't look to me for sympathy... I think you all are just societal parasites... but not your fault, personally, of course.
