"Bigger pensions drawing protests; Lawmakers' initiative could cost $6b or more; Critics say state, towns can't afford increase" by Matt Viser, Globe Staff | May 28, 2008
Massachusetts lawmakers are proposing bigger pensions for state and municipal employees that could cost $6 billion or more, according to some estimates, triggering a chorus of complaints from fiscal watchdogs and local leaders who say the money is not there to pay for it.
The union-friendly, election-year maneuvers by the House and Senate would increase the annual cost-of-living adjustments that retirees receive as part of their pensions.
The individual numbers are seemingly small, a boost of about $120 a year more for every retiree, which advocates say is well-deserved. But multiplied by over 100,000 former teachers and state workers in the state's pension system as proposed by the House and by 86,000 municipal retirees as envisioned in a Senate amendment, it would add up fast, say critics.
This is the kind of thing Ron Paul talks about in his book!!!
"It's a tremendous gesture, but the money doesn't exist," said Mayor Scott W. Lang of New Bedford, who says he would have to lay off six current employees to make it work for the city's 1,721 retirees. "I have absolutely no qualms whatsoever of bumping that to meet the inflationary needs, but there's no funding. Without the funding it's illusory."
Over the next several weeks, the provisions will be the subject of negotiations in House-Senate budget conference committee meetings, which largely takes place behind closed doors.
Even though it is YOUR MONEY, Massachusetts' taxpayers!
Take it from a resident: THIS STATE SUCKS!!!!!!
For some reason, Democratic and "liberal" crooks aren't as bad around here.
The state is considering the new spending as it is already raiding its rainy-day fund, raising some taxes, and looking for cuts to balance the budget while repairing crumbling roads and bridges. It also comes as pension payments are being pared back by corporations across the nation....
So typical of Massachusetts!!!! Remember the BIG DIG?
Oh, and by the way, it is not like these employees of the STATE aren't getting a cost-of-living-increase already:
Just SUCKING the LIFEBLOOD out of you, aren't they, Massachusetts' resident?!?
Yup, PRICES are UP, but you gotta THROW MORE DOUGH at GOVERNMENT LOOTERS!!!!
Please read: Ron Paul Revolution Excerpts: Economic Freedom