Government Workers On A Roll – Advice To The Young

[Bill Call]

Forget about saving, investing, risk taking, starting a business, innovation, and nose to the grindstone drudgery! Get a government job instead:

http://www.boston.com/bostonglobe/edito ... employees/

Even liberals like Willie Brown get it:

http://www.gaypatriot.net/2010/01/04/wi ... ates-woes/

Obama has agreed to exempt government workers from his new health tax:
http://www.nypost.com/p/news/national/u ... IxXAm37DOM

If you work for the government Obama would like to forgive your student loan:

http://www.washingtonpost.com/wp-dyn/co ... 01813.html

Student loans are just another government scam. The government schools raise tuitions year in and year out at a rate substantially above inflation so that college becomes unaffordable so then the government borrows money to lend to students who give it to government schools so they can raise tuition even more and the solution is to forgive the loans if you work for the government.

Is anyone else tired of this type of nonsense?

Any anyway….

Why should we be on board for increasing property taxes in Lakewood to pay for another round of raises for government workers who hate the City so much they can’t stand the thought of living here?

[Grace O'Malley]

You're wrong about student loans.

They are not a government scam, they are a banking industry scam.

Federal aid to students was primarily in the form of grants, based on need/income, until the 1980's. At that time, the banks saw a lucrative market and lobbied Congress to change the system and loans became the new standard. These loans are made by the banks but are completely guaranteed by the government, cannot be dismissed in bankruptcy, and the banks are paid a fee for making the loans. Further, the loans require minimum to no real "credit check" for credit worthiness.

The student "aid" situation was entirely orchestrated by the banks and their lobbyists.

However, you are correct that it allows the colleges to continually increase tuition and fees beyond what could be sustained without the program. But place the blame where it belongs: on the banking industry.

[Charlie Page]

Interesting report from the Cato Institute comparing compensation of state and local government employees to the private sector.

Clearly somethings got to change. We, as taxpayers, can't afford to keep paying and paying and paying. It's not an endless trough.

Our elected officials have to stand up and say no more!

[David Westlake]

Interesting report from the Cato Institute comparing compensation of state and local government employees to the private sector.

Good read. What an eye-opener! I knew it was bad, but Wow! Current public system retirees and double-dippers don't know how good they have it! At some point the many of the public retirement systems are going to collapse or require a massive bailout (probably the latter).

I know the PERS and STRS in Ohio are already having fund problems during the current economy. There has already been talk of reducing future benefits to current employees that have not yet retired. Hmmm. Sounds alot like Social Security/Medicare! We must cut benefits of current recipients as well as make smaller promises to future ones. Sounds so simple!

[Tim Liston]

There has already been talk of reducing future benefits to current employees that have not yet retired.

Unfortunately there has been no such talk. I defy you to find it for me. There is only talk of (1) future, not yet hired public sector employees not getting such a sweet deal, (2) “employers” (i.e. taxpayers!) ponying up more money, and (3) slightly increased contributions from current public sector employees starting in 2013 or something like that. Certainly not benefit cuts for current empoyees (or retirees for that matter).

Ohio STRS once was actually way overfunded. So what they did was to vote themselves a bunch of ad hoc benefit increases including a “13th monthly check” every year for close to two decades! I remember my own (teacher) mom talking about it. So now that STRS after all that is tens of billions of dollars in the hole after raking the pot for so many years they want my CHILDREN to make them whole.

Well not if I have any say in the matter. Mattie and Katie owe them NOTHING.

[David Westlake]

Unfortunately there has been no such talk. I defy you to find it for me.

Here's one article that mentions the dire situation that the pension systems are in and steps that are being considered to help remedy it. (Not that they will be successful in passing them on to the unions) http://www.cleveland.com/open/index.ssf/2010/01/public-pension_tab_in_ohio_41.html

So what they did was to vote themselves a bunch of ad hoc benefit increases including a “13th monthly check” every year for close to two decades!

I totally agree. I was saying that all along. I knew many retirees that were getting the sames bonuses in the "good times." At STRS, the managers were getting big bonuses too. Absolutely ridiculous!