weak Obama proposal

[Jim in CT]

Scott, here in CT, the unfunded liabilities for public unionized employees is $34 billion (that's pension and healthcare benefits, I don't know how much goes to each piece). There are 3.4 million people in CT, so that works out to $10,000 for every human in the state, $50k for my soon-to-be family of 5.

The total tax rate in CT is always in the top 5 nationally, yet the politicians primised these uniom employees $34 billion more than they took in. There are only 2 explanations - either our taxes are unreasonably low, or the benefits are unreasonably rich. There isn't a third option.

I told my governor's spokesjerk that if they ever extend that rail line up to the New Hampshire border, to sign me up for a 1-way ticket.

CT is doomed. Doomed.

[scottw]

Originally Posted by Jim in CT

Scott, here in CT, the unfunded liabilities for public unionized employees is $34 billion (that's pension and healthcare benefits, I don't know how much goes to each piece). There are 3.4 million people in CT, so that works out to $10,000 for every human in the state, $50k for my soon-to-be family of 5.

.

what is a little mind boggling is that they had been calculating returns at 8.25%..."before overseers yesterday cut return expectations to 7.5 percent a year from 8.25 percent"....a rate that they had never achieved in the past...