Pensions are they secure?

Okay, I was planning to talk about entitlements, but I haven't finished putting my thoughts together on the subject. The research did turn up an interesting fact or two, which I will repeat tomorrow. For now, think on this, if you are a single person with two minor children work full time and apply for all applicable entitlements, you can have a greater level of disposable income than a person who works full time earning $60k annually with two minor children. So what is the incentive to work for a living? More on this tomorrow.

Today, I did a little work on government employee pension plans. If you discount what the Federal Government does, (simply prints money), and instead concentrate on what the local, county and state level pension plans are currently obligated to pay versus what they in funding, don't plan on getting your pension plan. Already some cities such as Prichard Alabama have already stopped paying their pension obligations. In the case of Prichard, there have been a great deal of hardship. It can even be argued deaths, but I would hesitate to say so, since I have no directly knowledge only press reports.

We have all heard of Bell City California where the officials have been milking the tax base for years, we it seems they are about to declare bankruptcy and in doing so, will no longer have any obligations to pay its pensions, which will in turn be picked up by the state. Yes the same state, (California), that has stopped paying its vendors for months at a time for lack of funds.

If these pension plans implode, you can expect a bigger problem in this country than what the Great Depression created. The people of this nation have been raised on being able to milk the tax payers of this nation for too long and if the money stops flowing, you can expect a greater degree of strife than we have ever seen before. It will make Greece look like a quiet retirement party in comparison.

Now you know why so many officials are eager to restrict our 2nd Amendment rights. Greece in turn has no laws allowing the possesion or ownership of firearms and look what happened there.

I will see you tomorrow

Enjoy!