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Old 01-25-2011, 06:10 PM
 
Location: Forests of Maine
37,461 posts, read 61,379,739 times
Reputation: 30409

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IMHO "former state governments" = politicians
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Old 01-25-2011, 09:38 PM
 
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It is the pension system that is the problem. If it were just Maine, then maybe you could blame one or two politicians. However, nearly every state is facing a pension crisis.

A good chunk of the blame lies with the General Accounting Standards Board (GASB). If GASB used the same pension parameters as the Financial Accounting Standards Board (FASB) does for private companies, then public pensions would be in better shape.

GASB provided the rope to state governments who have, not surprisingly, hung themselves with it.
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Old 01-27-2011, 04:11 PM
 
Location: Forests of Maine
37,461 posts, read 61,379,739 times
Reputation: 30409
Today he [Maine State Treasurer Bruce L. Poliquin] released a new 'blog';

Treasurer's Blog

It has a fascinating chart on it titled: "Projected pension costs to taxpayers"

Pretty informative!
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