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In reply to the discussion: Live election blog: As in San Jose, San Diego voters also curbing pensions [View all]rayofreason
(2,259 posts)2. One problem is pensions...
...not the size, the structure. Pensions are a promise to pay a certain amount in the future, no matter what the circumstances. It is easy to defer contributions (rob Peter to pay Paul), or to have a moron screw up the investments, or to have unrealistic expectations for returns. So that means that government budgets get stressed to pay for the pensions.
With a 401K what you have is it what you have. No one is one the hook for your retirement. I have a 401K. Many other voters do too. Perhaps if public unions moved rapidly to embrace the kind of retirement planning that most people have would dissipate the unhappiness that many voters feel about being on the hook for someone else's retirement.
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Live election blog: As in San Jose, San Diego voters also curbing pensions [View all]
rayofreason
Jun 2012
OP
And in November, we'll see more areas voting the same. Ah, and then there is double dipping.
IndyJones
Jun 2012
#26
And the fools don't realize that the reason 401k are so low is because of the scam artists
nanabugg
Jun 2012
#15
So is the best path (politically) to fight to keep those pensions for public employees or to realize
kelly1mm
Jun 2012
#11
I agree that historically that was the case that public employees traded income for pensions/
kelly1mm
Jun 2012
#12
unions (both public and private) are some of the few mass organisations that can
stockholmer
Jun 2012
#14
No, it's actually about money. Spending by the Yes on B campaign (San Diego) was about 5 times...
slackmaster
Jun 2012
#17
Moneyed interests have had the breaks going their way since money was invented
slackmaster
Jun 2012
#20
Our problem is that there is no voice out there educating the masses about how they are being played
nanabugg
Jun 2012
#16
The management-level public employees I know personally are doing better than I am
slackmaster
Jun 2012
#18
Yeah, teachers, cops and firefighters are always driving around in BMWs, drinking Cristal ...
SomeGuyInEagan
Jun 2012
#27