Originally Posted by
TANSTAAFL
Buzz,
Don't disagree with you, and retired Mil as well, however one has to ask what was the root cause of the financial crisis at the state levels that are leading to the current standoff? Much is due to cutbacks in state funding caused by having to trim federal funding tied to bailing out the economy and floating hundreds of billions of dollars to prop up Wall Street for the mortgage meltdown that was allowed by several administrations worth of legislation permitting it to take place.
All the current debate over Wis and other states would carry more weight for me were it not that we are basically allowing the rape of the middle class to pay for the sins of government ineptitude and greed of the financial community that is held to a very different standard than that of those now asked to pay for their mistakes.
Should this sentiment prevail it will only be a matter of time before our military retirements are no longer sacrosanct, and I'll guarantee you you'll be singing a different tune then.
The government has - at least since 1972 - been a believer also that they are the unlimited cash machine. Printing money is easy and as the quantity out there in circulation increases, it is simply covered by inflation. The larger the pool of dollars, the less they are worth.
The problem isnt necessarily the teachers or the working employees, it is entitlements in general, by this I mean unearned benefits.
The states do not currently print their own money (despite South Carolina talking about it) so they have (imperative) to get their houses in order. Additionally, states cannot declare bankruptcy so currently they cannot un-a$$ their obligations.
I completely agree that if someone is counting on any aspect of their retirement from the federal government, they are delusional - You can still HOPE for it, but not count on it...This includes PBGC, Social Security, federal/military retirement. The deal is though, that if the federal meltdown happens, there will be fighting in the streets, no law enforcement, an absolute breakdown in everything that stabilizes our society.
There are no easy answers. Nazi Germany had its start in a situation quite similar to the one we find ourselves in. The real repair to our current quandry unfortunately has a strong Fascist flavor and "the people" are being unwittingly herded in that direction.