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Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: research1234 who wrote (38362)	2/2/2013 7:45:06 PM
From: Brian Sullivan	6 Recommendations Read Replies (1) \| Respond to of 85487

and I'm pretty sure that Reps have been just as guilty as Dems. Thats why I have a high degree of confidence that many state and local pension plans will implode in the next 30 years or so. I think that if you dig a little deeper you'll find that the Democrat controlled states are the ones with the huge gaping pension liabilities: Illinois, California, New York, etc...

To: research1234 who wrote (38362)	2/3/2013 11:00:15 AM
From: Paul Smith	3 Recommendations Read Replies (1) \| Respond to of 85487

Governments are of course quite different - since they have full taxing abilities But we have seen municipal governments declare bankruptcy just like companies - Harrisburg PA for example. It also seems that assuming that taxing authority makes public pensions funded, is flawed logic. If I thought that taxing authority was the answer, I could increase the size of municipal pensions by 1000X and it wouldn't matter because the taxing authority would always fund them.