This is where your federal tax dollars will disappear to:
S.F incurs huge costs for public retirees: Governments begin to grapple with unfunded health care
In San Francisco’s effort to pay the soaring cost for retiree health benefits, it’s $500,000 down, $4.9 billion to go.
The city, like most local governments and school districts in California, has put aside no money to cover the fast-growing cost of delivering on health care coverage promised to its workers once they hit retirement age.
But in San Francisco, the financial liability hanging over the city is one of the heaviest in the state, thanks in part to the generosity of its employee health care benefits.
“As this number keeps growing … it can cripple our budget,” said Supervisor Sean Elsbernd, who has taken the lead on trying to address the issue in the city’s legislative body. “This will eat up all our discretionary income, the money we use for street repairs, parks and programs for the people of San Francisco.”
Boo-hoo. My heart pumps purple piss for you dumb fucking assholes. You need to either defund and cancel the program or tax the hell out of your citizenry to pay for it.
Fat chance that, what with Miss Frisco, Nancy Pelosi, in charge of the purse strings of the federal government.
Methinks that future headlines will follw that look something like this:
Health and welfare deficit to surge by 50 percent
The deficit in France’s national health and welfare system is forecast to hit 12 billion euros (16.3 billion dollars) this year, about 50 percent more than the previous estimate, an oversight body warned Wednesday.
“The general administration deficit will expand again in 2007 to reach 12 billion euros and thus return to its heights of 2004 and 2005,” the Social Security accounting commission said in a report.
You will only need substitute “USA” for “France” if the Dems win in 2008.
We’re all going to pay for SF’s largess. The feds will bail them out. Can’t be the State, as we’ll literally be broke in under 2 years, trying to pay for Arnold’s $15 billion “bail out”.
I have a son that’s going into firefighting. One of the allures was the incredible benefits programs. He sees my brother, a LEO in Northern Cal that will be retiring in 6 years at age 53 with a pension for life of 90% of his final salary.
I have told my son that he needs to assume that whatever political subdivision he works for will go broke before he retires, and that he needs to put his own money away. The bigger the subdivision he works for (city vs. county vs. state vs. feds) will increase the liklihood of him receiving some sort of return on their promise.
It’s like my view with Social Security: I do all of my retirement planning assuming SSI will not be there when I retire. If it is, that will just be gravy.
I suppose the second article won’t come up in discussions of nationalizing health care..
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