{"id":13034,"date":"2012-01-12T15:31:53","date_gmt":"2012-01-12T20:31:53","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=13034"},"modified":"2012-01-12T15:31:53","modified_gmt":"2012-01-12T20:31:53","slug":"qotd-when-a-figure-is-too-high-to-be-repaid-it-wont-be-repaid","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2012\/01\/12\/qotd-when-a-figure-is-too-high-to-be-repaid-it-wont-be-repaid\/","title":{"rendered":"QotD: When a figure is too high to be repaid, it won&#8217;t be repaid"},"content":{"rendered":"<blockquote>\n<p>It\u2019s hardly news anymore that public-sector pension promises will be made good (or not) on the backs of taxpayers, but I still think that the average private-sector packmule has no idea of the amount they\u2019re going to have to pony up to vouchsafe the various municipal, state, and federal pension promises. The amount required over the next several decades beggars the imagination. In fact, the amount is preposterous: there\u2019s no way the money is ever going to be paid out as promised. Even if it were mathematically possible (which it isn\u2019t), taxpayers would revolt over the massive increases that would be required. If I were a public-sector worker, I\u2019d be making a point of saving every dime of my own money that I could, because that fat public sector pension is unlikely to ever be paid out in full. (And I\u2019m not even getting into the healthcare benefits, which are even more onerous than the pension benefits.) Basically, the bedrock truth is this: money that can\u2019t be paid out, won\u2019t be, no matter what agreements were signed or what the courts say.<\/p>\n<p>Monty, <a href=\"http:\/\/minx.cc\/?post=325547\" target=\"_blank\">&#8220;The Daily DOOM&#8221;, <em>Ace of Spades HQ<\/em><\/a>, 2012-01-12<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s hardly news anymore that public-sector pension promises will be made good (or not) on the backs of taxpayers, but I still think that the average private-sector packmule has no idea of the amount they\u2019re going to have to pony up to vouchsafe the various municipal, state, and federal pension promises. The amount required over [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8,25,84,41],"tags":[509,544,276],"class_list":["post-13034","post","type-post","status-publish","format-standard","hentry","category-bureaucracy","category-economics","category-government","category-quotations","tag-civilservice","tag-pensions","tag-retirement"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-3oe","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/13034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=13034"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/13034\/revisions"}],"predecessor-version":[{"id":13035,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/13034\/revisions\/13035"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=13034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=13034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=13034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}