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Fairfax Underground
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Welcome to Fairfax Underground, a project site designed to improve communication among residents of Fairfax County, VA. Feel free to post anything Northern Virginia residents would find interesting.
Detroit was obvious, but...
Posted by:
Vernors Man
()
Date: August 06, 2013 04:51PM
Should all cities and municipalities be required to disclose their financial condition and unfunded liabilities? This can be useful information for people in at risk cities and those considering moving to another city.
Thoughts?
Thoughts?
Re: Detroit was obvious, but...
Posted by:
Tray von Martin
()
Date: August 06, 2013 05:07PM
Yes, but they'll still find ways to do creative accounting, so it won't matter too much.
Re: Detroit was obvious, but...
Posted by:
Logical Liberal
()
Date: August 06, 2013 05:51PM
Nearly every community in the country is going to fail to pay its debts in the coming decades.
For many years, unionized public workers have accepted unrealistic promises for tomorrow, once they've accepted that they've taken all they can from today.
Creative accounting has allowed almost every pension in the country to be underfunded. Even when deposits were made, projections rely on steady 8% returns which are entirely unrealistic.
The world has limited resources - it's all a zero-sum game. No amount of borrowing or printing will allow our illusions to continue much longer. We're moving from "extend and pretend" into the "end game".
Those "in the know" have been sucking the last of the wealth from the system. All that we be left for the rest are debts and unfulfilled promises.
No, it doesn't make me happy. I truly worry for the world my children will inherit, but it's best to know now, and do what you can to prepare. I might be Liberal, but I'm also pragmatic.
http://www.peakprosperity.com/crashcourse
For many years, unionized public workers have accepted unrealistic promises for tomorrow, once they've accepted that they've taken all they can from today.
Creative accounting has allowed almost every pension in the country to be underfunded. Even when deposits were made, projections rely on steady 8% returns which are entirely unrealistic.
The world has limited resources - it's all a zero-sum game. No amount of borrowing or printing will allow our illusions to continue much longer. We're moving from "extend and pretend" into the "end game".
Those "in the know" have been sucking the last of the wealth from the system. All that we be left for the rest are debts and unfulfilled promises.
No, it doesn't make me happy. I truly worry for the world my children will inherit, but it's best to know now, and do what you can to prepare. I might be Liberal, but I'm also pragmatic.
http://www.peakprosperity.com/crashcourse
Re: Detroit was obvious, but...
Posted by:
liberals love taxes
()
Date: August 06, 2013 06:01PM
In Cali they have some public pensions that paid 100% of their yearly income. It also provided fully funded health care for life. No system in the public sector can sustain those kind of perks without massive tax increases or cuts in service.
Re: Detroit was obvious, but...
Posted by:
Liberal Logic 62
()
Date: August 06, 2013 07:17PM
liberals love taxes Wrote:
-------------------------------------------------------
> In Cali they have some public pensions that paid
> 100% of their yearly income. It also provided
> fully funded health care for life. No system in
> the public sector can sustain those kind of perks
> without massive tax increases or cuts in service.
As beautiful as Cali is as a state, its the poster child of how not to run a government. At least the weather will be nice for the homeless.
-------------------------------------------------------
> In Cali they have some public pensions that paid
> 100% of their yearly income. It also provided
> fully funded health care for life. No system in
> the public sector can sustain those kind of perks
> without massive tax increases or cuts in service.
As beautiful as Cali is as a state, its the poster child of how not to run a government. At least the weather will be nice for the homeless.