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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (107621)	2/1/2010 10:43:06 AM
From: Nixpix	11 Recommendations Read Replies (3) \| Respond to of 116555

I live in Colorado Springs and went to the City Council meeting that night to speak out against a tax increase. We don't trust our city and its not just union pay. Its also the pensions from the past that have to be cut. In the past years they would allow school teachers and city employees to buy years. I know one lady that worked at an elementary school here in town. She only worked there 15 years and bought back I think it was 12 years, so she retired with almost a full pension (close to 100% of her salary). How can a city afford to pay someone who is 60 years old a full pension for the rest ot their life.... and who authorized people to buy years they never worked and get a pension for it. Its wrong!! I believe its 30% of our budget is pensions. I could be wrong, but I think that is what it is. I remember reading it and thinking...know wonder we have so many problems. The money is going to pensions instead of services and no one owes someone else a free ride.....