“A new report by Moody’s Investors Service finds that public pensions are $2 trillion short of the amount they owe current and future retirees. “Combined with large unfunded liabilities, aging plan demographics effectively transfer costs incurred by a previous generation onto the present one, increasing the burden on current government operations,” the report stated.”
So what does this mean? Higher taxes to fund the liabilities, cutting of public services (aka austerity), and insolvency. Most likely all three. This is what happens when you pair public employee unions and the politicians who feed off of them.
The next time a union endorses a politician, you can be sure they are in league to fleece the tax payers.
The so-called “sustainability” movement is so politicised that it’s far more detrimental to the environment then doing nothing at all. Vaclav Smil, professor emeritus of environment and geography at the University of Manitoba, makes the case for gradual change in his article: A Skeptic Looks at Alternative Energy.
“Imagine education wholly managed by the market economy. The variety! The choice! The innovation! All the features we’ve come to expect in so many areas of life — groceries, software, clothing, music — would also pertain to education. But as it is, the market for education is hobbled, truncated, frozen and regimented, and tragically, we’ve all gotten used to it.”
Read more: Is School Like Jail? http://dailyreckoning.com/is-school-like-jail/#ixzz1poIzOTqy