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Frederick News-Post Editorial: Another time bomb
A story in last Sunday’s Washington Post examined yet another fiscal time bomb facing Americans. As if the feared meltdowns of Social Security and Medicare weren’t enough, the Post report states that numerous state and local government employee pension programs serving teachers, police officers and millions of other workers have devolved from stable systems into houses of cards.
Among the issues driving this potential disaster is that old bugaboo of creative accounting, whose dubious practices present a rosy but unrealistic picture of the health and future of these pension programs.
Posted by: Sammy on 05/15 at 07:13 AM
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One, pension plan members will find their pension programs reneging on the promises around which these workers have designed their futures;.......
......
Pension plans/health care benefits are promised for life........
Financial guru Warren Buffet also notes another big problem, "Because the fuse on this time bomb is long, politicians ...... given that problems will only become apparent long after these officials have departed."
Sounds like the situation in Charles COunty. Employees were promised at hiring years ago and now are facing unknown changes.
And the politicans will be long gone.
A man must learn to understand the motives of human beings, their illusions, and their sufferings. einstein
Comment by BJGoodwin on 05/15 at 04:03 PM | Back to Top
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