| reply to CXM_Splicer
Re: When Private meets Public said by CXM_Splicer:So then why have the pension systems worked fine up until the point where tax revenues took a hit?
That's just their nature. All Ponzi schemes work fine for a while.
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| said by PaulHikeS2: That's just their nature. All Ponzi schemes work fine for a while.
Yes, as Wall St. Is finding out. 
For pensions to be a Ponzi scheme, the new employees would be paying the pensions of the retirees and would require a constantly increasing number of workers... that doesn't happen. The company (or government) pays the pensions as part of the retirees' salary which has been deferred and numbers of workers (in general and federally) is going down, not up. |
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