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alstry (36.32)

Now The Fun Really Begins.......1.01.10......

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January 19, 2010 – Comments (12)

Senate GOP: Cut all public workers' pay, benefits
6 minutes ago
Senate Majority Leader Mike Bishop said Tuesday the pay of teachers, professors and state and local government workers should be cut by 5 percent and held at that level for the next three years to save money...

Ouch!!!!  A 5% paycut for 20 plus million workers.

 THE REAL INTERESTING PART IS WHEN ALL PENSION RECIPENTS WILL BE FORCED TO TAKE MASSIVE CUTS IN CURRENT PAYMENTS.

The problem is that most pensions are bankrupt or near bankrupt....and payments are currently being made from current contributors funding and NOT fair actuarial values in the fund.  Many current pension recipients have already received more than they should have based on the current value of the fund.  Going forward, payments should be cut dramatically and apportioned more fairly with current contributors.

My guess is this is going to light a big fire blow the AARP.......prepare, life is about to get really really interesting.

Welcome to the government crash post 1.01.10......which has never happened before in American History.

12 Comments – Post Your Own

#1) On January 19, 2010 at 5:20 PM, alstry (36.32) wrote:

How about ALL GOVERNMENT WORKERS....and why stop at 5%??????

Tax receipts are down 25% and more........over 25,000,000 private sector workers lost their jobs last year.

5% is not even a good start......

Can you Fools see where this is going........welcome to Alstry's world......when all the Fools find out practically our entire economy is essentially a Ponzi scheme......and very few of you should be earning anything close to what your are currently being paid.

Relax.....you will understand very very soon.

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#2) On January 19, 2010 at 5:29 PM, mawnck (< 20) wrote:

All glory to the relaxed, understanding Hypno Toad.

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#3) On January 19, 2010 at 5:46 PM, alstry (36.32) wrote:

A frog in boiling water???????????????????

LANSING – About 17,000 state employees will take up to 10 furlough days, as bargaining failed to produce $16 million in concessions.

ouch!!!!!!!!!

Welcome to the recovery........

http://www.freep.com/article/20100119/NEWS06/100119058/1318/Thousands-of-Michigan-employees-to-take-up-to-10-furlough-days

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#4) On January 19, 2010 at 5:49 PM, OneLegged (< 20) wrote:

How about pay cuts for the incompetents in Congress?  They look down from their ivory tower at us peons and just don't understand what all of the fuss is about.

 

 

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#5) On January 19, 2010 at 5:51 PM, alstry (36.32) wrote:

AND IT IS ONLY BEGINNING........as you are told it is a recovery?????

JCPenny's Store in Waterford Summit Place Mall - 96 Jobs Gone

TRW Automotive in Mount Vernon by June - 180 Total Jobs Lost

Marshalls Closing Memphis Location  - 51 Jobs Effected

Bloom Store in Ashburn - 35 to 45 Job Losses Expected

Update: Alstom Transportation in Hornell NY - Layoffs Starting , up to 500 this year?

Stanley Furniture ( StanleyTown Plant ) - 150

 

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#6) On January 19, 2010 at 5:59 PM, alstry (36.32) wrote:

And the ax is about to fall much harder......

Well before Kraft Foods Inc. captured Cadbury PLC with a sweetened $19 billion offer early Tuesday, the British were voicing dark fears about massive layoffs across the Realm.

Layoffs are coming, all right. Kraft has said it will cut $675 million in annual operating expenses by the end of the deal's third year. The ax probably falls most swiftly, however, on Kraft's familiar home turf of North America.

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#7) On January 19, 2010 at 7:07 PM, workfor (< 20) wrote:

Imagine what would happen to this country if great numbers of doctors,engineers,scientists, business owners, and anyone left with any semblance of wealth decides to pack it up and leave?

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#8) On January 19, 2010 at 7:18 PM, jszoke01 (24.49) wrote:

Mike Bishop to to sane for my state.

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#9) On January 19, 2010 at 7:26 PM, devoish (96.28) wrote:

Pay cuts for the Gov't, tax breaks for the bankers!

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#10) On January 19, 2010 at 7:32 PM, workfor (< 20) wrote:

We were told by past presidents that jobs leaving the country were jobs that we really didn't need. Do you think we need those jobs now?

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#11) On January 19, 2010 at 8:18 PM, workfor (< 20) wrote:

Jobs left this country because of wages. Will they not eventually come back because of wages? Cheap wages? After all, in a true global economy don't we eventually have to have an equalization of wages? What conditions need to exist in this country for jobs to come back?

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#12) On January 20, 2010 at 8:25 PM, Varchild2008 (84.50) wrote:

@workfor

Equalization of wages impossible if Gov't keeps minimum wage laws in place.

One of the biggest signs in 2006 or so that signalled a Bear Market for me was that Minimum Wage laws were hiked both in Michigan and Nationwide.  That really destroyed Michigan's small businesses....in Malls especially....and nationwide...

Catastrophe!

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