Monday, February 22, 2010
School budget problems in a recession
So the value of the funds supporting the pensions have gone down, just like our 401k's, but then they need to increase the contributions to the pensions, in a recession. That's going to go over well. An article Even More on the Coming War Over Public-Sector Pensions shows the problem showing up in Fairfax, Virginia, as well as the dishonesty going on in selling the public on the $90M tax increase they want to pay for this.