Public pensions and their beneficiaries have been taking a lot of heat the last couple of years. These defined benefit plans have been blamed for 'bankrupting' cities across the country. several states also blame public pensions for their fiscal woes. In Illinois, for example, the state is $100 BILLION in the red on pension obligations. Why? Not because those bloodsucking employees did anything wrong, but because lawmakers either skipped or shorted payments to the state's five retirement systems for decades. So, I'm with the governor on his plan to hold paychecks of legislators until they come up with a plan. It's the same all over. Cities and states have 'postponed' mandatory conributions again and again, and now the bill is due, but there's no money to pay it. Funny, if I do that, they turn off my utilities, right? legislators do it, and they just keep on rolling.
Having said all of this, I do not understand why a college basketball coach makes so much money. And I think I need to look into the possibility of a job with the prison system. Their docs, shrinks, and dentists seem to make out great.
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