WSJ: Gooferment “retirement” promises should be suspect

FROM WSJ

*** begin quote ***

NUMBER OF THE DAY

$645 billion

The amount U.S. states as a group will need to pay the retiree health benefits they have promised. Under accounting guidelines that apply to most governments, states and cities around the country will book the losses on their balance sheets starting in fiscal 2018—a shift that could potentially lead to cuts in retiree heath benefits.

*** end quote ***

I know some Gooferment employees who assume that their “pensions” are rock solid guaranteed. I try to caution them to be skeptical, but like the “Delphic Oracle” I can sway them.

So sad.

But one very ugly chicken is coming home to roost.

# – # – # – # – # 

NUMBER OF THE DAY
$645 billion
The amount U.S. states as a group will need to pay the retiree health benefits they have promised. Under accounting guidelines that apply to most governments, states and cities around the country will book the losses on their balance sheets starting in fiscal 2018—a shift that could potentially lead to cuts in retiree heath benefits.

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