Tag Archives: pensions

The Pension Benefit Guaranty Corp.

Posted on February 18, 2009 by Les Jones

Reason: The PBGC is the “government corporation that insures the pensions of 44 million workers and retirees.” You get one guess who is going to have to pay the piper on this one. The fund takes over private-sector defined-benefit plans … Continue reading →

Posted in Economics | Tagged , , , | 3 Comments

More on the public/private pension fund disparity

Posted on February 9, 2009 by Les Jones

Forbes – Gilt-Edged Pensions: America, in case you hadn’t noticed, is dividing into two nations. The 22.5-million-strong public sector (that includes retirees) is growing ever larger, and enjoying ever greater wages and benefits often guaranteed by state constitutions. In private-sector … Continue reading →

Posted in Economics | Tagged , | 1 Comment

“If you did not know it before, you do now. California is bankrupt.”

Posted on January 19, 2009 by Les Jones

Mish – Sharing The Pain In California (quoting the San Jose Mercury News): If Gov. Arnold Schwarzenegger were to fire every employee in state government tomorrow, it would easily patch California’s enormous deficit, right? Not even close. But surely shutting … Continue reading →

Posted in Economics | Tagged , , | 3 Comments