There is one issue in the Presidential race that no one is talking about. Whoever is sitting in the Oval Office in 2013 or 2014 is going to have to deal with this issue. Who we select is going to decide issues that may change the course of the nation.
What is this issue no one is talking about?
We are soon to be facing a massive crisis. What is this crisis? It is the pension fund crisis.
Every state offers a pension plan for its employees. In Blue states, these pension funds have been raided, benefits expanded with the result being massive unfunded liabilities.
How much are these unfunded liabilities?
No one is quite sure. The best estimate is that it is between $2.5 trillion and $4 trillion.
The issue is will there be a bailout of these unfunded pensions?
If Barack Obama is reelected, the Democrats will push for trillions in spending to bailout these under funded pensions.
What are the top ten states with pension liability problems?
They are Ohio, New Jersey, Illinois, Minnesota, Colorado, Rhode Island, California, Oregon, Wisconsin and Connecticut.
What are the ten states with whose pensions are in the best shape? They are Tennessee, Nebraska, North Dakota, Vermont, North Carolina, Virginia, Maryland, South Dakota, West Virginia and Indiana.
What does a pension bailout mean?
It means that those states that are in good shape will be paying a lot of tax dollars to pay for the excesses and irresponsibility of other states.
What will Barack Obama do? He will redistribute tax dollars. He will pick winners and losers. He will send money to those states but the real problem is that Barack Obama will not insist on changes that will prevent a future disaster.
In short, Barack Obama will simply rearrange the deck chairs on the Titanic. Obama will simply bailout the state pension funds and not demand changes. After all, government workers, particularly unionized government workers, are the backbone of the far left Democrat Party.
If Mitt Romney is elected, he will have the same problem to deal with. However, Romney as a businessman has dealt with these kinds of issues before.
The real issue for the citizens of states that have well managed pension systems is why should they pay have to pay for the pension systems of states that have spent like drunken Democrats.
The other big problem that the occupant of the Oval Office in the next few years will face is not only the pension systems but the out of control spending by certain states, such as California.
Not only is California’s pension system insolvent, the entire state is insolvent. Half the people who live in California have thought about leaving because the state is such a basket case.
This is one of the unsung issues that must be addressed. The economy is coming of the rails even more than it has in the first four years of the Great Obama Depression.
Who do you believe can fix the economy? The man who has spent the last four years blaming his predecessor for his failures or a man who has fixed broken companies? Who do you want to face the issues that are going to face the President in the next term? Do you want a radical leftist who believes our free market system is the problem or a President who understands how the free market works and how it can create prosperity for all Americans?
This is our choice.
The answer is obvious.
Tags: bailout, barack, liabilities, mitt, obama, pension, romney, state, unfunded
Permalink Reply by Paul Welch on Yes the choice is obvious. It should be as clear as the difference between night and day. Romney/Ryan 2012
The Democrats want to get everybody dependent on the government so they will vote for them.
If California is in such bad shape maybe all those rich Stars and the rest of Hollywood should throw in the money it takes to get the state out of a jam. It sounds like it is the state of California's problem not all the citizens of the US's problem that they can't follow a budget. Let them gather up money from people in their state to get them out of this mess or go BUST.
All the rich people are acting like it is no big deal to "Share the Wealth", then let the rich in California bail out California. Then we can all make note of which ones of the rich put their money where their mouth is and which ones whine about having to give up some of their precious money. Let's test the Democrat Theology here a little bit. They always say everything always happens in California first. Test out the Democrats theory of "Shearing the Wealth" in California before they try shoving it down the rest of the countries throat. Put California on a FLAT 20% TAX with NO Deductions for anything. That includes individuals and businesses.
Then when they decide it's time to implement the plan of reducing the world population to under 500,000,000 let that start in California FIRST too.
The current plan does benefit the super wealthy. A flat tax would be the fairest tax. But you can expect the super wealthy to fight it! Or, at least most of them!
In California's case, the best thing that could happen would be introduce legislation restricting collective bargaining rights for public sector employees. This in conjunction with "conversion of public sector pensions to minimal annuities" would remedy their situation.
In short, California cannot afford it's legacy costs. When public sector salaries and benefits are brought in line with private sector salaries and benefits, the problem will be solved.
Permalink Reply by Mollie Baxter on And how can I, lower middle class, ever get wealthy if they raise taxes on capital gains and estates taxes, etc. It is my only chance of getting ahead. If $200,000 is middle class, why, at $30,000, am I not poverty stricken? I am drowning out here!
Permalink Reply by virginia on How is Ohio figured into this? According to what I've heard here, John Kasich has Ohio doing all right.
Permalink Reply by Norma J. Sears on There is a great deal to do even if Republicans win. Weve got to change the way of thinking in DC.....period.
Get the money back into the states and quit sending so much to DC. Cut buracrats, their agencies and their budgets.
Sure hope the education goes on after we old-timers are gone.
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Permalink Reply by Mollie Baxter on Norma, it is going on now - unfortunately it is all a lie or poorly taught. I say "poorly taught" not because of the teachers but because of unfunded, and ridiculous mandates from the Federal government.
Permalink Reply by 2a5jnma1m9pz7 on YES, Norma J. Sears ! Now, have you heard OBUMMER'S LATEST T.V. Ad ? . . . . . The one where he wants to " address education," in America ? . . . . Well, if I may, I shall INTERPRET such a statement, from a LIBERAL, . . . . " I, the FEDERAL Government, wish to USURP the states' management of their OWN SCHOOLS, which THEY, THE STATES, own & finance ! So, the FEDS, through the DEPARTMANT OF EDUCATION, which wastes MILLIONS & MILLIONS & MILLIONS & MILLIONS & MILLIONS, and, yes, MILLIONS of dollars, wish to " correct " these IGNORANT STATES, who simply DO NOT KNOW HOW to " educate " kids, whose parents HUG THEIR GUNS & BIBLES !
OH, . . . . did I mention that the NOTORIOUS DEPARTMENT OF EDUCATION was created by NONE OTHER than the EXTREMELY LIBERAL JIMMY CARTER ? . . . . SO, . . . . folks, SINCE Carter's " creation " of the D.O.E., has education improved, in YOUR state - school ? . . . .. .
Permalink Reply by Kristin Fecteau on Permalink Reply by 2a5jnma1m9pz7 on YES, Kristin, YES !
Permalink Reply by Dorris Ponstingl on When The Black Bishop told people to leave the Democratic party and the Black coalition are telling people to BOYCOTT OBAMA then I LISTEN.
WHEN Al Sharpton and Jesse Jackson keep things stirred up among people these are the DEMOCRATES that show the DEMOCRATIC party are a bunch of THUGS, and they are a DISGRACE TO THE HUMAN RACE
And that is the message the Bishop and the Coalition are talking about.
PLEASE LISTEN . .
Permalink Reply by Kristin Fecteau on Permalink Reply by Doug Nicholson on They're just "bumps in the road".
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