Public pensions, municipal bonds, state budgets going bankrupt this spring - GoFuckYourself.com

Redrob · 12-19-2010, 05:49 PM

This Spring, $160 billion in stimulus money runs out and no more bailouts in sight.

Public pensions funds are not being funded and the Unions are starting to scream. Municipal governments are going broke trying to pay off all the municipal bonds that they floated for large construction projects.

The ordinary couple who have their retirement funds in 401Ks were screwed when the market crashed.

Now, the day of reckoning is coming for the large public pension, health benefit plans and muni bonds that are dragging down local governments. And, they don't want to share the pain of the recovery in the form of reduced benefits or budgets.

Joe Blow, man on the street, says everyone should pay their share equally. No golden bailout for the unions and their pension funds or citys and their bloated budgets.

Going to get interesting this Spring according to 60 Minutes.

PS, now may be the time to get rid of any municipal bonds if the bonding authority is having budget problems.

Vendzilla · 12-19-2010, 05:56 PM

pulled out of the 401k in time to put it in a CD getting 1.4%, lmao

12-19-2010, 05:49 PM	#1
Redrob Confirmed User Industry Role: Join Date: Oct 2004 Location: In a refrigerator box by the tracks. Posts: 4,790	Public pensions, municipal bonds, state budgets going bankrupt this spring This Spring, $160 billion in stimulus money runs out and no more bailouts in sight. Public pensions funds are not being funded and the Unions are starting to scream. Municipal governments are going broke trying to pay off all the municipal bonds that they floated for large construction projects. The ordinary couple who have their retirement funds in 401Ks were screwed when the market crashed. Now, the day of reckoning is coming for the large public pension, health benefit plans and muni bonds that are dragging down local governments. And, they don't want to share the pain of the recovery in the form of reduced benefits or budgets. Joe Blow, man on the street, says everyone should pay their share equally. No golden bailout for the unions and their pension funds or citys and their bloated budgets. Going to get interesting this Spring according to 60 Minutes. PS, now may be the time to get rid of any municipal bonds if the bonding authority is having budget problems.

12-19-2010, 05:56 PM	#2
Vendzilla Biker Gnome Industry Role: Join Date: Mar 2004 Location: cell#324 Posts: 23,200	pulled out of the 401k in time to put it in a CD getting 1.4%, lmao __________________ Webair died? Carbon is not the problem, it makes up 0.041% of our atmosphere , 95% of that is from Volcanos and decomposing plants and stuff. So people in the US are responsible for 13% of the carbon in the atmosphere which 95% is not from Humans, like cars and trucks and stuff and they want to spend trillions to fix it while Solar Panel plants are powered by coal plants think about that