Should we SLASH pensions for BOTH current and future public sector employees? (education, pay)

[Malloric]

Originally Posted by Curmudgeon

Guess this slipped by you but the tax payers include those of us who worked for the government so to an extent, we payed ourselves and were taxed going-in and are taxed taking-out. But by all means, don't let me interject reason into your bias.

You paid yourself with money you were paid by the taxpayer. Don't get me wrong, I do some government contract work. Just because they government is paying your salary doesn't mean you aren't working for it. Public servants, not public slaves. Servants are paid.

[Curmudgeon]

Originally Posted by Malloric

You paid yourself with money you were paid by the taxpayer...

...including myself so your argument is pretty baseless and offered only to be inflamatory and dismissive.

G'day!

[Fontucky]

Difference is, I now work for myself, so instead of having many a'hole bosses, I have one to deal with: lil ole me.

[malamute]

Originally Posted by nmnita

Like it or not, there may not be a choice, especially for future retireees, just like the feds and yes, even SS. I am not sure about slashing the pentions of those already on SS but certainly in the future...

I think the problem is that the government will take from the retirees and only spend and waste it all. Then when they're finished raiding the pensions of the retirees, where will they head for their next raid?

They need to cut spending across the board and that is what they're refusing to do.

[expatCA]

Originally Posted by malamute

I think the problem is that the government will take from the retirees and only spend and waste it all. Then when they're finished raiding the pensions of the retirees, where will they head for their next raid?

They need to cut spending across the board and that is what they're refusing to do.

They raided SSI years ago. Now all there is our IOU's in the SSI fund, plus some current revenue,

[Malloric]

Originally Posted by expatCA

They raided SSI years ago. Now all there is our IOU's in the SSI fund, plus some current revenue,

SSI has by law been invested in federal treasuries for decades upon decades. That's a completely separate issue than the fact that SSI will be insolvent and unable to make payments before someone born today could legally have a drink in a bar. It's a pay-go system, anyway, not a vested one. What you pay into it was never intended to be saved in some sort of escrow account for you.

[expatCA]

Originally Posted by Malloric

SSI has by law been invested in federal treasuries for decades upon decades. That's a completely separate issue than the fact that SSI will be insolvent and unable to make payments before someone born today could legally have a drink in a bar. It's a pay-go system, anyway, not a vested one. What you pay into it was never intended to be saved in some sort of escrow account for you.

Uh, investing in treasuries was by taking the cash out of the fund and spending it. Now to pay retirees we have to take tax money NOW to buy back the treasuries for SSI. The Treasury notes are IOU's.

It also is not a pay go system. It was set up and still is a pay now for current retirees and hope there is enough working people when you retire to pay your SSI.

[qr5667]

I'm not a huge fan of reneging on existing contracts - and only the federal government is allowed to do that unfettered. State and local governments will have to tread carefully.

I'd rather see us cut welfare spending dramatically, before cutting salaries.