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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (92386)	9/22/2001 11:40:27 PM
From: James F. Hopkins	Read Replies (2) \| Respond to of 132070

I'm afraid it's a lot of pension funds, in 99 I read about how State after State was jumping in the stock market and using the pension funds to create paper surpluses ; Well they spent the surpluses so now what ? Not just States, Counties too ( remember I told you we were having a property TAX crack down; down here , I suspect the County is running short on cash ) To top it off most State and County employees were allowed ( encouraged ) to drop out of the Social Security program years back I have two step sons working in Dallas for the city who never have paid any S.S. The city has it's own pension program I understand from them that Dallas didn't get into stocks but they did buy a lot of corporate dept. Anyway I think we will see some more "Orange County" type stuff pop up if things don't soon bottom, but they are covered as they can always raise Taxes <G> Jim