Public pensions, municipal bonds, state budgets going bankrupt this spring
This Spring, $160 billion in stimulus money runs out and no more bailouts in sight.
Public pensions funds are not being funded and the Unions are starting to scream. Municipal governments are going broke trying to pay off all the municipal bonds that they floated for large construction projects.
The ordinary couple who have their retirement funds in 401Ks were screwed when the market crashed.
Now, the day of reckoning is coming for the large public pension, health benefit plans and muni bonds that are dragging down local governments. And, they don't want to share the pain of the recovery in the form of reduced benefits or budgets.
Joe Blow, man on the street, says everyone should pay their share equally. No golden bailout for the unions and their pension funds or citys and their bloated budgets.
Going to get interesting this Spring according to 60 Minutes.
PS, now may be the time to get rid of any municipal bonds if the bonding authority is having budget problems.
Public pensions funds are not being funded and the Unions are starting to scream. Municipal governments are going broke trying to pay off all the municipal bonds that they floated for large construction projects.
The ordinary couple who have their retirement funds in 401Ks were screwed when the market crashed.
Now, the day of reckoning is coming for the large public pension, health benefit plans and muni bonds that are dragging down local governments. And, they don't want to share the pain of the recovery in the form of reduced benefits or budgets.
Joe Blow, man on the street, says everyone should pay their share equally. No golden bailout for the unions and their pension funds or citys and their bloated budgets.
Going to get interesting this Spring according to 60 Minutes.
PS, now may be the time to get rid of any municipal bonds if the bonding authority is having budget problems.
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