Good question. States can't print money but I believe they can redirect funds from current workforce to retired people. This IMO is a big factor in increasing the number of gov employees. Its a beast.
Its wild that New York isn't in worse shape. I was kinda surprised by that. But, when you look at the size of their surplus of 1% you realize how massive the responsibility is. $4.8 billion is 1%. California is in the hole $234 billion. Both states must have a massive number of employees.
When I first looked at the chart I was confused as well. They are slightly over-funded. Why do you single those two out though? Shouldn't they all stand or fall on their own?
https://media1.tenor.com/m/Z9O6sGo6wCcAAAAd/oof-old-man.gif
Yeah, pretty brutal.
how bad do the numbers need to be before people stop getting paid their pensions?
The state will raise taxes for pension to be paid out.
Public sector unions wield too much influence and they have done a good job of brainwashing voters
Public sector unions should be abolished. You work for the government not a corporation
Good question. States can't print money but I believe they can redirect funds from current workforce to retired people. This IMO is a big factor in increasing the number of gov employees. Its a beast.
Its wild that New York isn't in worse shape. I was kinda surprised by that. But, when you look at the size of their surplus of 1% you realize how massive the responsibility is. $4.8 billion is 1%. California is in the hole $234 billion. Both states must have a massive number of employees.
WTF Kentucky?
Right? That was the most surprising thing to me.
I hate the word public pension. It’s not for the people or public. It’s for public sector employees.
The idea that taxpayers have to partially support the pension of government employees is an abomination
Yeah, they aren't public sector. They are government sector. Public is a psyop word I've been trying to remove from my vocabulary
Public sector unions do a good job of playing the poverty card.
https://www.cnbc.com/2024/03/21/biden-to-forgive-5point8-billion-in-student-debt-for-nearly-78000-borrowers.html
74,000 bucks of loan forgiveness per borrower
Look at California and DC.
I say let them starve.
DC is doing better than almost all states...
When I first looked at the chart I was confused as well. They are slightly over-funded. Why do you single those two out though? Shouldn't they all stand or fall on their own?