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State Bankruptcy


Kimmo

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Are you clueless? the paper first said some people made claims like these, which nobody including you contested was true. Then the paper went about to disprove these claims. wtf is wrong with you?

 

 

Still waiting for a source. zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

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Seriously. After this "discussion" I'm ready to go have a beer with you and KK as you would be more fun.

 

One farmer says to me, "You cannot live on vegetable food solely, for it furnishes nothing to make bones with"; and so he religiously devotes a part of his day to supplying his system with the raw material of bones; walking all the while he talks behind his oxen, which, with vegetable-made bones, jerk him and his lumbering plow along in spite of every obstacle.
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Are you clueless? the paper first said some people made claims like these, which nobody including you contested was true. Then the paper went about to disprove these claims. wtf is wrong with you?

 

 

Still waiting for a source. zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

 

The sentence you cited doesn't have to be referenced because everyone interested knows that some people made the claims mentioned.

 

You may think that asking for an unnecessary reference is diversion enough to discredit the report I cited, but you are mistaken because the only thing you demonstrated is poor thinking (I'll reluctantly give you the benefit of the doubt for being in good faith considering the stupidity of your argument). But hey, you now got the sympathy of the morons. Congratulations!

Edited by j_b
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"The key question is what should be done. A major increase in contributions is not realistic at this time. States and localities may have only limited ability to increase employee contributions, because some state courts have ruled that the public employer is prohibited from modifying the plan for existing employees. Higher contributions from new employees will take a long time to have any substantial effect. Thus, if funding levels are to be restored quickly, the money must come primarily from tax revenues. But the recession has decimated tax revenues and increased the demand for state and local services. Thus, finding additional taxes to make up for market losses will be extremely difficult. One small step that would be viewed as a commitment to responsible funding would be for states and localities to at least pay their full ARC. Otherwise, the only option is to wait for the market and the economy to recover."

The Funding of State and Local Pensions: 2009-2013

Center for Retirement Research at Boston College

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