Thread: OT GM bailout
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Old November 20th, 2008, 12:07 AM posted to rec.outdoors.fishing.fly
Calif Bill
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Posts: 531
Default OT GM bailout

"Ken Fortenberry" wrote in message
...
wrote:
Ken Fortenberry wrote:
The idea that a society can toss these folks away like spent
machinery is untenable.

So what's the answer? For once I'd like to hear the whiny liberals
actually propose something.

OK, how about this. Single payer health care, Canadian style.
Take the burden of health care off of industry because it makes
us uncompetitive.

We're going to have the same problem across the country soon
now that the boomers are hitting retirement age. The retirement
ponzai schemes only work when there are more people at the
base of the pyramid. Not enough people working to support
those not working. Boomers weren't smart enough to save
for their retirement.

I don't know what retirement plan you're talking about but the
one with which I'm associated, SURS of Illinois, is no scheme.
And it's been working just fine since 1941 and will continue to
work fine unless Illinois adopts a new state constitution because
under the current Illinois constitution the legislature cannot
get their grubby little hands on any SURS monies.

If the GM retirement plan had been as well managed and funded
as SURS there would be no problem at all with it.

There are going to be a lot of people getting a harsh reality check
when they go to retire. I'm glad this recession came now instead
of 5-10 years from now when the boomers had already retired.

Why do you hate America so much ? ;-)

--
Ken Fortenberry

Health care still has to paid for. And govenment has never done much
efficently. As to SURS, maybe it is like CALPERS. They had a lot of money
during the dot.bomb bubble that they convinced the state that they could pay
3% per year to everyone instead of 2%. Retire at 90% after 30. Values
fell with the bubble burst and now the state has to chuck another 1/2
Billion bucks a year to cover the costs. Part of the states fiscal
problems. SURS is only safer to retirees because the state has taxing
ability.