(d)rowning in (d)ebt , Connecticut faces (d)ire budget crunch. State capital Hartford considering bankruptcy

[hwytohell]

https://www.reuters.com/article/us-connecticut-debt-idUSKCN1B318N     

Edited August 23, 2017 by hwytohell

[Highmark]

Just one of many states with deep unfunded pension liabilities.  This doesn't take into account municipalities within those states. 

[Carlos Danger]

The state bird in now the moving van.

[Anler]

1 hour ago, Highmark said:

Just one of many states with deep unfunded pension liabilities.  This doesn't take into account municipalities within those states. 

Honestly they should all file. That will be the only way to renegotiate the liabilities. Many states need a reset. I think the best measure is to get out of the pension administration business all together. Too much liability that shouldnt belong on the tax payer. 

[Highmark]

1 minute ago, Anler said:

Honestly they should all file. That will be the only way to renegotiate the liabilities. Many states need a reset. I think the best measure is to get out of the pension administration business all together. Too much liability that shouldnt belong on the tax payer. 

Its inevitable.  

[racer254]

1 hour ago, Anler said:

Honestly they should all file. That will be the only way to renegotiate the liabilities. Many states need a reset. I think the best measure is to get out of the pension administration business all together. Too much liability that shouldnt belong on the tax payer. 

What happens to the pensions of all those hard working blue collar laborers?  They just get the shaft and the politicians that caused the issues just go away scott free? 

[Anler]

6 minutes ago, racer254 said:

What happens to the pensions of all those hard working blue collar laborers?  They just get the shaft and the politicians that caused the issues just go away scott free? 

They are going to get re-negotiated. Right now they are unsustainable. Who can afford to pay someone their entire salary with COL increases for the rest of their lives? It never should have been. The math just doesnt work. 

[XC.Morrison]

11 minutes ago, racer254 said:

What happens to the pensions of all those hard working blue collar laborers?  They just get the shaft and the politicians that caused the issues just go away scott free? 

That's how a smart businessman would do it.

[snoughnut]

1 hour ago, racer254 said:

What happens to the pensions of all those hard working blue collar laborers?  They just get the shaft and the politicians that caused the issues just go away scott free? 

Unrealistic promises have realistic consequences.

Politicians are just like bankers, they're allowed to cause failure but shall not be allowed to fail themselves.

[Mainecat]

Why not raise taxes on say every administrators salary OR anyone who signed a contract agreeing with the unions pensions? You know mr. mayor etc?

[Highmark]

4 minutes ago, Mainecat said:

Why not raise taxes on say every administrators salary OR anyone who signed a contract agreeing with the unions pensions? You know mr. mayor etc?

K.   Now how do you raise the other 99.9%?

[Mainecat]

1 hour ago, Highmark said:

K.   Now how do you raise the other 99.9%?

Stop signing contracts with 100% pension benefits.

The government did it over 30 years ago.

[Highmark]

1 minute ago, Mainecat said:

Stop signing contracts with 100% pension benefits.

The government did it over 30 years ago.

 

[ActionfigureJoe]

1 hour ago, racer254 said:

What happens to the pensions of all those hard working blue collar laborers?  They just get the shaft and the politicians that caused the issues just go away scott free? 

what happened to the high flyers at goldmansachs? 

 

answer: sitting in the trump white house.  

[racer254]

45 minutes ago, ActionfigureJoe said:

what happened to the high flyers at goldmansachs? 

 

answer: sitting in the trump white house.  

Aren't you on the taxpayer dole?

[Mainecat]

I think there are some Enron guys there too.