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Fair that Detroit bankrupcy will cut retiree pensions?

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Thats pretty damn cold. I would never laugh at the destruction of the lives of middle class workers in retirement. It is a tragedy. They spent decades working for those benefits, they are not handouts. I see no humor whatsoever in people being thrown into poverty because of the broken promises and morals of others.

Wooosh!

That's the sound of my point going over your head.

So far this has been set up as employees versus bondholders. I raise the prospect that the employees may be bondholders.

Edit: To make even clearer (apparently necessary for some) where does this argument about defaulting or screwing bondholders to help the employees' pension go if the pension holds bonds?

Fern
 
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And this is why Republicans can still get elected. As crazy as the GOP can act at times, the Democrats can still make them look reasonable by comparison. I'm just shocked(!!) that the Democratic response to a problem is to throw more (of other people's) money at it.
The Dem's are very, very good on the PR front. They have very successfully painted Repub's (conservatives as a whole, actually) as the purveyor's of all that is evil. Combine that with the brainwashing too many have received in their schools along more takers than makers and the handwriting is on the wall.

I've really got to give them credit though. They've been pretty masterful in their ministrations. This form of destruction takes decades to bring to fruition. You don't accomplish it in a few years. I said a year or two back that the best thing may just be to roll over and give them everything they want and hasten the demise. The sooner it's over the sooner the rebuilding can begin.

I really don't want to change the topic of conversation though.

Back to Detroit...
 
And this is why Republicans can still get elected. As crazy as the GOP can act at times, the Democrats can still make them look reasonable by comparison. I'm just shocked(!!) that the Democratic response to a problem is to throw more (of other people's) money at it.

the Democratic leaders are no different from the voters, who really believed they were getting their gas and mortgage bills paid if they voted for Obama.
 
ok, then by the same logic, it's ok for pension payouts to be lost or reduced.

Of course it is, if the money doesn't exist it doesn't exist regardless of what you, I or anyone else thinks is "ok" or "fair".

The people who promised these pensions lied their asses off but math never lies.
 
And this is why Republicans can still get elected. As crazy as the GOP can act at times, the Democrats can still make them look reasonable by comparison. I'm just shocked(!!) that the Democratic response to a problem is to throw more (of other people's) money at it.

Are you kidding, watch the related videos about the Detroit City Council. I truly never would have believed that there was a council in the US more retarded than the school board in my own home town but Detroit is sure giving them a run for their money. Despite that display of complete and total idiocy I somehow doubt that said district will elect a R next election.
 
And this is why Republicans can still get elected. As crazy as the GOP can act at times, the Democrats can still make them look reasonable by comparison. I'm just shocked(!!) that the Democratic response to a problem is to throw more (of other people's) money at it.
One cannot help but think there must be a contest, else this much stupid-crazy would not exist. This is one giant douchebag jackass reality show and there have to be "D' list celebrities speaking through hidden receivers.

"Tell them you're going to assume 8% overall lifetime return even though year to year is 2%."

"Tell them it's okay to ban abortion without exception because raped women can't get pregnant."

"Tell them you can save $600 billion in Medicare fraud - but only if you can spend it somewhere else whether or not you actually cut it."

"Tell them your budget balances in three years and doesn't raise taxes or cut anything necessary."

"Tell them you have to pass the bill so that they can see what's in it."

"Tell them gay marriage caused 9-11."

"Tell them you're only spying on them for their own protection."

"Tell them you're only spying on them for their own protection."

No way they actually believe this crap.
 
AKA a pyramid scheme.
Yeah basically. Strangely, my dad is a perfect example of how the pension was designed to work. He retired a few years ago, around age 62 I believe. He died at age 66. That really is how the pension was designed - most people should get very little out of it, it's like an insurance policy. Defined benefits pensions were great when people died early because they ensured that the minority who lived to 80 would live comfortably. Having average people live until 80 or 90 is what screws everything up, and the only way they become sustainable is through a pyramid scheme. Since the baby boomers are the base of the pyramid instead of the top of the pyramid, we see pensions going bankrupt. Think of it like an insurance company going bankrupt because they promised to give out trillions of dollars when pigs fly.... then pigs suddenly grew wings.

the Democratic leaders are no different from the voters, who really believed they were getting their gas and mortgage bills paid if they voted for Obama.
It's weird how a small minority of people thought everything would change when a black guy gets elected. Did they actually believe in the concept of The Man? Like deep down rent really is controlled by some pale skinned neckbeard who watched My Little Pony? Congress, which is still white, would allow Obama to give cash to black people or poor people or everyone even though they've never done that before?
 
Are you kidding, watch the related videos about the Detroit City Council. I truly never would have believed that there was a council in the US more retarded than the school board in my own home town but Detroit is sure giving them a run for their money. Despite that display of complete and total idiocy I somehow doubt that said district will elect a R next election.
I've watched some Detroit council meetings online, and it can really make a person scratch their head wondering if some elections are won by who can show they are the dumbest or craziest.
 
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