The Typical Government Retiree has a Greater Income Than a Full-time Worker?

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State-pensions_breaking_the_Bank

We taxpayers are being eaten alive and we don’t even know it. Some cities have already eroded into bankruptcy because the weight of having to fund public pensions has become too much of a burden. According to a study by the American Enterprise Institute, in the average state a typical career government retiree has an income higher than 72% of all full-time workers. Excluding health benefits, the average pension pays out lifetime benefits of more than $750,000. And us taxpayers are footing the bill.

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So why is this important? It is important because these costs are driving up state and local taxes and forcing cities to lay off police officers, limit school funding, and stop repairing roads. I understand public employees deserve to retire with benefits, but not with lavish benefit checks that are far beyond what those in the private sector can expect. Do you agree?

Original story “Pensions that cities can’t afford” by Jeff Jacoby from the Boston Globe.

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2 thoughts on “The Typical Government Retiree has a Greater Income Than a Full-time Worker?

  1. So public sector workers have higher pensions… the problem is not the workers, but their public official bosses. In the public sector the bosses at the purse strings are elected officials which means the most bosses are not concerned with the long range of their decisions, but the next election. So what are they going to do, negotiate to raise wages likely means an immediate need to raises taxes, or be like Houston mayors White and Brown who gave away the store by buying off the police and fire unions with huge increases in future pensions? It saved Houston immediate cash impact, but shifted even larger liabilities on to the backs of future citizens and downgraded Houston’s credit rating… but by the time the citizens figured it out, White and Brown have long since moved on. What, you thought the union officials would reveal the buy-off.. You mean before they retired at 40 with disability?

    Not mortgaging your future to pay your short term expenses is a basic business principle, and one that Anise Parker had the good sense to follow in her efforts to restore Houston’s financial health.

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