The Pension Bomb

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Tom Thumb : I don't care about government employees. They are overpaid and get better benifits than private employees. Government employees have abused the public for years.

jon w : My city was $500 million short on the Firefighters pension, the city put out a 10% restaurant tax to start. Stop voting Democrat

Leocomander : First mistake: trusting the government


Matthew Cioffi : "How do unions have disproportionate political power if unions are 10% of the population?" How do the rich have disproportionate political power if they are 1% of the population?

Winston Smith : This is the main reason why there should be no public unions allowed - the unions are NOT negotiating with the taxpayers, they are "negotiating" with politicians by promising politicians their vote if the politicians give them what they want, the politicians always promising far more than current or future tax receipts will support just as they always do with virtually every benefit they promise to anyone, not just pensions.

Armand Rodriguez : The unions thought they were using the politicians to screw the tax payers and it turns out those politicians screwed both the unions and the tax payers. In the end only the politicians got everything they wanted.

Justin Peanuts : Notice how the union leader did not reply to the question. The problem with Western society is it is full of dis-honest people like the union guy.

Kraig : Any pension backed by tax payer money is criminal and corrupt, and it should be illegal.

Proman : Government screws up everything it touches. Anyone stupid enough to believe and depend on Government gets what they get. Every city, county, or state that tries to solve these problems the way Detroit did, is going to end up like Detroit did. Raise taxes and people and businesses move out and at some point revenue begins to fall faster than you can raise taxes to compensate. All the dirty politicians responsible will just retire to luxury when they see the end coming. Chicago's Rahm Emanuel isn't running for reelection because he knows the slide is greased and he doesn't want to be around to deal with the mess he and his predecessors made. Chicago has passed the point of no return, and when the head rat jumps off the ship, you know the end is near.

Possert74 : when has government not screwed up everything it touches.

JD K : Remember that government is always the problem, never the solution

Thomas Halecky : 2024 will be an interesting year... that is the year when Social Security claims are expected to spike based on age demographics.

twaters57 : We could use some of the one trillion we spend on military and wars.

Darrel C : All Democrat ran cities, they destroy everything

Arcosian Cosine : I assume there will be no pensions or social security by the time I retire. In my experience government needs will take precedence over you and I don't have much faith in people to do what they say anyway let alone thrust that 40 years from now they will keep their word. The government isn't responsible with their money so why should I trust them with mine? Therefore, I'm planning my own retirement.

Shatner Williams : What's crazy is the entitled spoiled cry baby pensioners do have a point in that 1) they were promised this pension and 2) as long as tax money is being used for things that are not promised like welfare and other social services, ESPECIALLY going to illegals, they have the right to say pensions should be funded first. This is why Democracy and Socialism DOES NOT WORK. There is no fixing it. He who holds the biggest political stick will win. What's fair is not a consideration, if things ultimately collapse completely in the long run is not a consideration.

Justin Bailey : Public sector unions are destroying this nation.

Jeremy Holovacs : 401(k)s are just this side of worthless. I have an idea: hold those lawmakers who refuse to fulfill their obligations to the law and the citizens criminally accountable. I'll bet that money would turn up if you could go to jail for shirking on your responsibilities.

Charles Lumia : Taxpayers shouldn't be paying for anyone's anything. To start, most of those state and federal positions shouldn't even exist. Second, they are already being compensated. There shouldn't be additional compensation that people who aren't even born yet have to cover and pay. The whole system is retarded.

Mordalo : Typical union goon. No clue of reality. If the private sector did this, we would be in jail.

bjkarana : Pensions work if they're funded, but there's too much incentive to abuse the funds, which we have seen time and time again, but the public sector pensions are particularly egregious because they can reach into your pocket as a taxpayer decades after the promises were made. At least if a private business's pension goes bust, they can't just reach into your wallet to fix past bad behavior unless you're a shareholder.

Jimmy Cain : Screw the unions and their members.

Yoshifan9511 : NPC's chanting at the beginning of the video.

Dan Lyons : That union rep is so angry. You can see the REEEE Rage in his head LOL.

Michael Nyden : The labor unions got government workers crazy deals that the private sector would never say okay to in terms of pensions, their retirement is totally unrealistic and would only fly when its being funded or approved by other peoples money ie. The american tax payer.

Mark Marola : How did this happen???? Not paying attention????? What hog wash. They knew exactly what they were doing.

Gregory Mannarino : Let's use their numbers. OTC (over the counter) derivatives 500+ Trillion. This does not include 'Listed Derivatives.' Keep in mind that derivatives are Leveraged Bets- that is multiples on money. Also understand that derivatives can have multiple layers. Today Margin debt, (borrowed money), by individuals and institutions is at an all time record high. So today as part of the Debt Bubble, record borrowing is being used to "bet" on a literally unknowable amount of financial instruments known as derivatives. Moreover, investment banks are using YOUR pensions, savings, and other deposits to play this game... Gregory Mannarino

Roberto 123 Pl : John is best journalists hands down

Roger didit : The teachers have been a CATASTROPHE in this country. Test scores are at an all time low. The kids are dumber than ever! Do you know that the government wanted teachers to undergo a BASIC competency exam. Just show that if you teach history, you know THE BASICS. The teacher Union REFUSED and fought it. The college professors are LITERALLY COMMUNISTS AND SOCIALISTS. No kidding. They do not hire or tolerate conservatives or right leaning thinkers. Starve them. Give them nothing.

BeardedVeteran : Social Security is next. Bankrupt by 2030.

Travis Lockwood : there should be no public unions its a union agaisnt the citizens not a singular employer but the tax payers

JJJ J : The problem here isn't public employees enjoying such great pensions. The problem is the municipal or state level governments mismanaging the pension funding in such an incompetent fashion that in the end the workers get screwed out of their pensions. Other countries manage to pay out their pension obligations without going bankrupt.... so what's going on in the ole US of A?

Ted Schoenling : And this is why government shouldn't be in charge of anything.... much less schools. Teachers, wake up, working for the government is only hurting you... you really do want to privatize education, it is in your best interest.

David Mikhail : "So you dont like democracy." No, I dont; and evidently neither did the founding fathers of this nation which is the reason why they enacted a REPUBLIC.

Giggitygoo : I've always leaned to the right, but if you took a job with the promise of a pension, I think you have a right to be angry when it doesn't come through.

franco lopresto : I can't help but to despise union the a-holes in this video.

DORGOUS : excellent journalism Stossel

YorickReturns : *Just assume that you're going to get nothing from the government.*

Biggie Scooby : So let me get this straight. It’s okay for the US Govt to bailout Wall Street, Auto, etc etc, creating money from thin air but when it comes to creating money for unfulfilled pensions they have no money. Mmmkay...👍🏼po

g money : Yeah John we have 21 trillion dollars missing from HUD and the department of def. but teachers are the problem. Why don’t you do a video about that. They steal 21 trillion from the American people mostly from pension funds and now want to turn around and say they cannot pay pensions. This is the problem that false prophets like yourself will never point the finger at the real enemy.

Dog hugs mina mina : So why punish the employees for the government's mistakes.

Glyne Martin : Minus the monies annually given generously to Israel and the military machinery...and watch miracles...

Elizabeth Mabry : Stop giving money to the illegals and "planned parenthood "

scretching08 : Everybody is ripping off everybody else so that everybody gets ripped off. Get it, got it. Yes!

Thomas Stecyk : The unions are doing their jobs. Looking out for the people that pay for their services.

Mark Marola : This is a classic case of purposeful diversion of money

PM Beaham : Gov. Gavin Newsome starts his term with a $15Billion SURPLUS... He and the Assembly want to spend it all. My first choice of course would be partial tax refund to the TAXPAYERS...but I know that is a pipe dream... So.... my 2nd choice is that at least 1/2 of the amount be invested by CalPERS to shore-up the State pensions... I NEVER worked as a govt employee (neither did my wife) and we have IRAs/401ks/KEOGHs as our retirement ...but I am a taxpayer.. I would rather have much of the SURPLUS (taxpayers money) be used now instead of seeing higher taxes 3-5 years from now to "save" the pensions...

Hudson Taylor : Public tax dollars going to pay people not to work. I don't remember voting for that.

Tree Climber : They were hired under the contract, spent years working for it, they earned it. Pay them.