State Workers Retiring En Masse

The debt crisis at the state and federal level is going to create many unforeseen problems. One such problem that is coming to light is the early retirement of public sector workers who fear their benefits will be restructured in the years ahead. Some people will say this is beneficial because these workers will be replaced with younger workers with less generous benefits. However, the problem isn’t the structure of future benefits; the problem is the structure of benefits already promised. The bill is coming due and pensions just are not funded to deal with what it shaping up to be a mad dash to retire in the public sector.

People will act in their self-interest when push comes to shove. Public sector workers may say they are working for the betterment of society, but if their pensions are threatened, many will retire early. Don’t get me wrong- I am not blaming public sector workers for behaving this way; I’m just pointing out what human nature suggests is going to happen. In Wisconsin, retirement applications are up 73% from last year. In New Jersey, the 4 major pension funds saw a 60% rise in retirees. Although you can predict who will retire based on demographics, you can’t predict how legislation or an ongoing budget crisis will affect people’s actions. One of the problems of wages that are either cut or frozen is that employees who retirement benefits are based on their salary are incentivized to retire. This is a reality that the government is just not prepared for.

Big Changes Ahead

People tend to think think that events unfold in an orderly fashion. However, this is not the case. A negative feedback loop is likely to develop where budget problems force public sector workers to retire early, which further constrains budgets, which leads to even more early retirements. This creates a situation where a lot of skilled work is sitting on the sidelines while government expenses expand. This is exactly the kind of crisis that brought down the major auto companies in America. You simply cannot accrue expenses at a faster rate than you grow revenue without a day of reckoning eventually arriving.

States will be forced to raise taxes into an economic downturn, which is going to lead to disastrous results. I expect domestic migration trends, especially in the Boomer demographic, to reflect levels of taxation at the state level. States with onerous tax rates will be scratching their heads at why their revenues are coming in lower than projected. Real estate prices will also reflect levels of taxation. We need to get creative to solve this crisis. States need to restructure pensions and get back in touch with reality. Tax rates need to be held steady so that employers can actually plan for the future with confidence. Debt needs to be issued to states interest free. There is a way that we can gradually claw our way out of this crisis. However, at the rate we’re going, a big crisis is probably going to come out of nowhere.

Share this article
  • Luigi Fulk

    I just want to tell you that I am all new to blogs and actually loved your blog. Likely I’m going to bookmark your blog . You definitely have really good articles. With thanks for revealing your web-site.

  • Bula Bussey

    this site is cool!! thx read

  • click for info

    I’ll gear this review to 2 types of people: current Zune owners who are considering an upgrade, and people trying to decide between a Zune and an iPod. (There are other players worth considering out there, like the Sony Walkman X, but I hope this gives you enough info to make an informed decision of the Zune vs players other than the iPod line as well.)

  • get more

    This is getting a bit more subjective, but I much prefer the Zune Marketplace. The interface is colorful, has more flair, and some cool features like ‘Mixview’ that let you quickly see related albums, songs, or other users related to what you’re listening to. Clicking on one of those will center on that item, and another set of “neighbors” will come into view, allowing you to navigate around exploring by similar artists, songs, or users. Speaking of users, the Zune “Social” is also great fun, letting you find others with shared tastes and becoming friends with them. You then can listen to a playlist created based on an amalgamation of what all your friends are listening to, which is also enjoyable. Those concerned with privacy will be relieved to know you can prevent the public from seeing your personal listening habits if you so choose.

  • read content

    The next time I read a blog, Hopefully it won’t disappoint me as much as this particular one. I mean, Yes, it was my choice to read, however I really believed you’d have something interesting to say. All I hear is a bunch of moaning about something that you can fix if you weren’t too busy seeking attention.

  • teds woodworking reviews

    how do i start a blog with a fictitious writer, parody/comedy/comment on current affairs politics etc?

  • penny stock egghead review

    Is Joomla software harder than Dreamweaver to learn. I have been told that Joomla is easier than Dreamweaver. Do Joomla make its own codes like Dreamweaver. I want to learn it and I want to buy the software. Please give me your opinion. Do I need to buy the Joomla program or not? . . Thx, God bless, take care! .

  • penny stock egghead

    How to transfer my blog from blogspot to paid hosting?.

  • browse around here

    You are so interesting! I do not believe I’ve truly read through a single thing like this before. So nice to discover somebody with original thoughts on this subject matter. Seriously.. thanks for starting this up. This web site is one thing that is needed on the web, someone with some originality!

  • Dee Wadleigh

    this site is coooooooooooooooooooooool!!!!!!!!!!!!!!!!! thx read

  • Arlinda Beger

    this site is coooooooooooooooooooooool!!!!!!!!!!!!!!!!! thx read

  • Arlinda Beger

    this site is cooooooaaaoooooooooooooooool!!!!!!!!!!!!!!!!! thx read

  • Auto approve list

    I conceive other website proprietors should take this internet site as an model, very clean and fantastic user genial layout. “One of the first duties of the physician is to educate the masses not to take medicine.” by William Osler.

  • Sugaring Zuerich

    I visit a local salon that does it by doing this, cooling within their hands. I unfortunately really need to get my lip, chin, and eyebrows done, I inherited some poor genes. It only expenses me about 9 bucks, and above time it lightens: When I 1st commenced receiving sugared I had complete blown wiskers.. right after receiving sugared just about every 2-3 weeks for about 6 months the hair is incredibly lite (i’m blond in order that assists). it can be been about four many years due to the fact I started obtaining sugared and now I only go in every single 6 weeks or so only for a clean up…

  • at home std test

    But is there something under the sunlight that arrives free? People they are mixing with can be relied on completely to keep their word. You can also find retro greeting playing cards at Hallmark.

  • Haarentfernung Zürich

    Make sure you cook it lengthy enough while in the microwave. Mine didn’t create sufficient with the time that was offered on here so I cooked it a bit longer and soon after it cooled, it was excellent and worked genuinely effectively on my legs.

  • Xuan Vantrease

    Lastly, got what I was seeking for!! I’ve actually enjoying every small bit of this. Ecstatic I stumbled into this post! and also I’ve bookmarked to look at exclusive information for your weblog post.

  • how to make beats

    please check out the sites we follow, like this one particular, as it represents our picks through the web

  • LED Lamp

    It’s the first time when i’ve seen your site. I can gather lots of hard work has gone in to it. It’s actually great.

  • check post

    Apple now has Rhapsody as an app, which is a great start, but it is currently hampered by the inability to store locally on your iPod, and has a dismal 64kbps bit rate. If this changes, then it will somewhat negate this advantage for the Zune, but the 10 songs per month will still be a big plus in Zune Pass’ favor.

  •;mateusz32 inwestycja

    I weigh up you ended a couple of sensibly fascinating points. Not very a lot of individuals would really obtain into consideration this the way you simply did. I’m truly impressed that there’s a lot about this subject that has been discovered and you did it so appropriately, with hence noticeably category. Top-notch one, thank you.

  • online portal

    My compliments, helpful post and an superb site. Also your post has inspired me to commence writing on issues comparable to what you are performing. We are creating a premium on the world wide web portal a specially-developed site that brings info with every other from diverse sources in an uniform way. The Connectdirector Online Portal – marketing and advertising networks & match producing community portal is professional networking on the Connectdirector “all in a single” premium world wide web portal providing organization networking & social networking, contacts, matching, on the internet content, (world wide web) advertising & (enterprise assistance) solutions. An distinctive multi-language world wide web portal concept with a global exposure and a nearby focus on each and every wealthy higher best high quality online content material material and dynamic database generated listings for matching person interest, business interests and social interests and wants. We at Connectdirector marketing networks and neighborhood portal are an match creating authority in guiding and lowering barriers by direct linking enterprise and social interests and wants interests on the principles of joint outcome, integrity, compliance and excellence. Summarized Connectdirector is Networking, Contacts, Matching, Content material, Marketing & Options.If you did not pay a visit to our site but and/or you are not a member, then please sign up as we truly want to know your thoughts so we can boost our on the world wide web portal. On our site you can commence straightforward to grow your network contacts!

  • top funny commercials

    Here are some of the websites we advise for our visitors

  • rejestracja spolki

    Really amazed! Everything is wholly, self-same obvious, untie is especially a description of the problem. It offers the information. I beloved to discern you that I associated with your situate with a dofollow back relations hence visitors may come to comprehend your situate. It is actually every one of self-same a new comer to me and this article rightly opened my personal eyes, and I reckon that since I support reading your blog, others will extremely. You can get back the link to your web situate here:

  • painful fails

    The information and facts talked about within the article are a few of the ideal readily available

  • aviator ray ban sunglasses

    Silver plate necklaces epitomizes typical easiness itself, but as the particular arranging for diamonds or even joined with many other metals, the actual conceptual value the application adds into the consumer is without a doubt inestimable. Real gold per se is way too comfortable in addition to would not be practical for fine jewelry and other elaborate stuff. Tiffany Sterling silver is completed whenever one more alloy, similar to water piping, will be tiffany jewelry outlet added onto a silver antique making it sturdy and difficult. So while it’s much less stable as steel,gold jewellery is definitely however highly long lasting in addition to long-lasting. That’s why lots of different wedding bands, pendants, necklaces, cufflinks for men, weight loss belt buckles, body jewellery even more aremade as a result of gold.

  • lidyana

    Wow, can i share it on social media ?

  • Hop Over To These Guys

    cheap tiffany necklacescontains quite a few precious jewelry to your wedding ceremony; bridesmaid sterling silver necklaces, necklace, diamond rings etc. Bridesmaid costume outfit earrings might be products in a very range of elements and additionally colouring pairing; silver plated and even magic coated with gemstone and additionally pebbles,tiffany silver jewellery,in different color selection pairing which in turn introducing a cheerful natural beauty to your account.

  • lesbian cam

    Great blog here! Also your website loads up extremely fast! What host are you currently applying? Can I get your affiliate backlink for your host? I wish my website loaded up as fast as yours lol

  • download skype credit generator 2013 no survey no password

    Thanks for sharing your thoughts on Big Changes Ahead.

  • subway surfers hack

    Great goods from you, man. I’ve understand your stuff
    previous to and you’re just extremely fantastic. I really like what
    you’ve acquired here, really like what you’re saying and the way in which you say it.
    You make it entertaining and you still care for
    to keep it smart. I cant wait to read much more from you.
    This is actually a tremendous website.

  • big tits cam

    Very good write-up, I¡¦m typical visitor of one¡¦s web page, sustain up the great operate, and It is actually going to be a normal visitor for any lengthy time. Pristina Travel

  • girl cam

    my youngsters really like to play with these assorted pool toys, they specially like pokemon pool toys and stuff like that*

  • where to buy pure garcinia cambogia in stores

    Thanks for the one of the nicest blogs i have read inside a although.

  • keratosis pilaris cure diet

    Keratosis Pilaris (KP) can be a genetic skin dysfunction of which has effects on 40% with the world’s human population. KP presents itself as being a bunch associated with tiny red humps which are most commonly located on the upper area of this biceps and triceps, upper thighs, glutes in addition to much less frequently around the confront, which is often wrongly diagnosed for pimples. Though there is no treat intended for KP, you can find ways to treat it. We shall demonstrate just how.

  • Navigate Here

    discount tiffany jewelrygoes over numerous necklaces for use on your wedding party; marriage pendants, anklet bracelets, bands and the like. Wedding ring outfit bracelets is usually projects in a wide selection of resources and additionally hue solution; jewelry coated or even magic coated by means of crystals and even flagstones,,inside coloration solution which attaching a cheerful magnificence back.

  • locksmith fulham

    It is best to participate in a contest for among the best blogs on the web. I’ll recommend this web site!

  • kuchnie

    Thanks for sharing superb in sequence. Your web-site is fantastically cool. I am impressed by the info that you have by this situate. It reveals how nicely you perceive this subject. Bookmarked this web page, will come rearward for further articles.

  • ralph lauren online sale

    tiffany jewelry sale might be perfectly thought Pieces of jewelry made of low-priced materials and also fake and also semiprecious brick. This also generally known as trend diamond jewelry, useless fine jewelry and this assumed was designed in the form of lower priced and affordable for repurchasing in an effort to healthy a particular together with fresh clothes fashion.they can be principally made out of cheap ,cheap tiffany and co jewellery,crystals which include rhinestones as well as on combination, components golden coated brass

  • jakikantor

    Thanks for the good writeup. It in truth used to be a entertainment account it. Look complicated to more added agreeable from you! By the way, how could we be in contact?

  • jakikantor

    Wow, awesome blog layout! How long have you been blogging for? you made blogging look easy. The overall look of your website is magnificent, let alone the content!

  • Luann Tillman

    Awesome internet site you have. We’ve been reading your articles for a long time and just wanted to commend you on a superb blog post topic.

  • thiet bi san choi

    Hey! I realize that is kinda off topic but I was wondering which blog platform will you be using with this website? I’m getting frustrated of WordPress because I’ve had difficulties with hackers and i am investigating alternatives for an additional platform. I might be awesome in the event you could point me toward a great platform.

  • Courtney Gouger

    Merely wanna state that this is very useful , Thanks for taking your time to write this.

  • Seguidores

    Just added your website to my list of price reading blogs

  • best commercials

    that will be the finish of this write-up. Right here you will come across some web-sites that we feel you

  • ranking kantorow online

    Attractive section of content. I just stumbled upon your web site and in accession capital to assert that I acquire in fact enjoyed account your blog posts. Anyway I’ll be subscribing to your feeds and even I achievement you access consistently rapidly.

  • acai berry juice singapore

    This website might be a walk-through rather than the specifics you wished relating to this and didn’t know who need to. Glimpse right here, and you’ll totally learn it.

  • Long Beach CA Homes For Sale By Owner

    After reading this I consider is really informative , i appreciate your time and effort to compose this posts.

  • rollover 401k into roth ira

    I simply couldn’t go away your web site before suggesting that I exceptionally loved the usual info a person present in your visitors? Is gonna be again regularly to examine up on new posts.

  • ray ban sunglasses for men

    Coloration plays a primary job within a prom dress in the distinctive day. It ought to accompany the skin skin tone. To the lovely graphic, it is possible to call attention to your figure by making use of weight losing colors just like wines, strong gray, woods green, midnight orange, wine red, cacao, and the natural hues regarding hourra, black, dull, sterling silver, rare metal, in addition to taupe. Prom dresses are often conventional occasion gowns, extended plus delicately beautiful. cheap black prom dresses could possibly be using the motif from the occasion and also they can simply be classic basketball robes. There isn’t any traditional approach to specify this “best promenade dress”. It will be the the one that will make you feel lovely and carry the appropriate image-sweet, naive, attractive or even gorgeous. The favourite prom dresses are silk, sequined, traditional designs, the miscroscopic black outfit, this asymmetrical ankle rehab ebook costume, a hanky hem and the traditional Cinderella ball gown.

  • hostgator 2014

    Its really good to share on my social accounts.

  • big trucks

    Here is an excellent Blog You might Obtain Intriguing that we Encourage You

  • buy viagra

    Here is a great Weblog You may Come across Fascinating that we Encourage You

  • kawa do ekspresu

    I’m truly enjoying the design and layout of your blog. It’s a very easy on the eyes which makes it much more pleasant for me to come here and visit more often. Did you hire out a designer to create your theme? Outstanding work!

  • regenerative institute

    This web page might be a walk-through as opposed to the particulars you wished relating to this and didn’t know who have to. Glimpse here, and you’ll totally discover it.