[QUOTE=mosholu;826182]
Piscator: In the private example there is no more money left at the company to pay into the pensions. With a state that has assets and the power to tax that is not the case which again that leads to a lawsuit and would really hurt the state in the bond market. QUOTE]
The private sector is in business to make as much money and profit as they can. If they can’t even afford pensions then why should the Government (who is not in the business to make money or profit) be expected to provide that to their employees? I'm not saying current employees shouldn't be entitled to them to some degree but it should be grandfathered and ended to new hires. Some (not all) of the state salaries are through the roof and there are pensions associated with those. As these salaries continue to rise, so doesn’t the pensions and it isn’t sustainable. The private sector pretty much ended it and the public sector needs to take a close look at it too (let's face it, the private sector is a hell of a lot smarter than the Government).
Check this link out, it list of salaries for Mass employees. Some of the State Troopers are making north of $150K and some Lieutenant’s well over $180K a year. Those pensions are a huge hit to tax payers money and can't be sustained. The only thing they can do is continue to raise taxes to pay for it. When will it end?
Your tax dollars at work: 2009 State Employee Payroll - Boston Herald.com