Life is far more complicated than it was back in the days of our Founding Fathers. Of course, aspects were more difficult because of the lack of modern technology, methods, and conveniences. For starters, consider the fact that we live with the daily threat of the devastation of nuclear war and fear the possibility of so called “dirty bombs.” We could debate for hours which periods in history had greater physical, economic, and mental pressures, but we surely must agree that we all have a far better quality of life with the significant advances in the sciences.
While climate control, environmental issues, debt, unemployment, immigration, and any number of other concerns must be addressed sooner or later, looming out there is a problem that no one wants to address and it has the potential to spin our economy into a recession of unknown proportions. UNFUNDED and UNDERFUNDED PENSION PLANS are the monsters hiding behind the door, and this must be ultimately confronted and resolved.
People are collecting unsustainable amounts of money from pension plans that were created and authorized by political, management, and union administrations that cannot realistically continue. There are huge pension fund obligations sitting out there in our economy that must have a day of reckoning. The problem will not go away and it must be addressed and resolved or our economy will be totally destroyed.
As an example, a number of states are looking at huge deficits caused by the weight of the pensions that their retired government employees receive. Taxpayers are overburdened. Now what?
This is a dirty secret that our politicians want swept under the rug, but the problem only gets bigger and worse with each passing day. Wake up America!