Originally Posted by
tsquare
While this is true, human nature has been to treat that gubbamint like a cash machine that never runs out. This cannot continue. The teachers have a painful lesson coming their way. It is up to them as to whether they choose to acknowledge history and learn from private industry (the irony there is palpable) or whether they choose to be an ostrich and think that the legislature will ALWAYS come through in the 11th hour and pay them. I have a cousin that just got a teaching job in Illinois.. primary education I think. She is pretty sharp, and said that she is going to plan on funding her own retirement because she realizes that the ponzi schemes are crashing down.
Not going to argue that. Just stating that the issues they face are what we faced, and other private sector groups faced. IMO, we are at a crossroads, where we as a nation choose what much of Europe has, or we chose to have a little less now, for less taxation and more freedom to do what we want with our money in the future. It is our choice to make, and the mileage will vary from individual.
I have told my family members with great retirements in government service. I use the termination of the DB here. They all say it will never happen. I make the point by using our words. They start to get it, but the reality will be painful.