Quote:
Originally Posted by benhogan
The saddest part is they are getting nothing for putting in their 5.5%. It wasn't even optional. If you worked for the state, you have to put it in.
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Classic ponzi-scheme. Not unlike Social Security.
I'm sure it's only the first of many shoes to drop. The states and municipalities have lots of obligations that were negotiated during good times. When that money isn't coming in like it used to, and none of the politicians (local or state) have the political gonads to make the necessary cuts across the board, there isn't much left to play around with.
I'm at odds with many members of our state Down syndrome group because the state has proposed across the board cuts, including to the Department of Developmental Services. Yes, they provide important services. So does every other state agency. Nothing should be off the board. If state finances were managed properly all along, we wouldn't be faced with a multi-billion dollar deficit over the next few years. It's easy spending tax payer money when times are good. When they're not, everyone has to make sacrifices.