Me and DB

[olds442jetaway]

glad you had a good trip. eight days is a longgggg time off and just gambling.

don't know if anyone caught this news tid bit. the NJ supreme court has ruled in favor of the governor/state in allowing the state to back out of commitment to pay pensioners COLA increases. do not know all of the details.

this could be important because if it survives appeal, it could affect state workers around the country. those pensions/benefits that one thought were guaranteed, at any cost to the taxpayer, just might not be as reliable as they thought. NJ along with illonois, conn and other states located in the north are among the worst off financially, largely due to retiree costs.

    Gulp....wife and I worked dam hard for the pretty small Fed pension I get. Crappy benefits already on mine. Wife will have a state one relatively soon. Wouldn't surprise me if they don't dip further into the pension funds and then say there was nothing else we could do.

[notes1]

just guessing, but fed pension likely safe, they can print money and borrow seemingly forever.

I do think some of these state benefits, especially in states who are in bad financial shape, may get reduced. taxpayers are revolting against the idea of raising taxes so government workers can retire in their 50's with lifetime pensions, healthcare and other goodies, such as cola. many are facing working until they are in late 60's-70. can't get blood out of a stone.

I have heard many ask why more of those in the financial industry have not gone to jail. how about these pols who made promises, just to get elected?

[olds442jetaway]

I will never forget when Lowell Weicker became governor of Ct. He ran on a platform of never instituting a State Income Tax based on earned income. Of course he reversed his position after getting elected, and even vetoed the repeal attempt which had passed. The over ride attempt fell short. This is what you get with politicians. Their main goal and job in life is to get elected everything else takes a back seat.