17 Mar 2008

Sage of Omaha on public-sector pensions

Wise words from Warren Buffett:

Whatever pension-cost surprises are in store for shareholders down the road, these jolts will be surpassed many times over by those experienced by taxpayers. Public pension promises are huge and, in many cases, funding is woefully inadequate. Because the fuse on this time bomb is long, politicians flinch from inflicting tax pain, given that problems will only become apparent long after these officials have departed. Promises involving very early retirement – sometimes to those in their low 40s – and generous cost-of-living adjustments are easy for these officials to make. In a world where people are living longer and inflation is certain, those promises will be anything but easy to keep.

Posted by William Heath on 17/03/08 at 7:34pm
Categories
Comments (1) Permalink

Page 1 of 1 pages

Ideal Government

Let's say what we want from e-enabled government. Let's observe government first-hand. Let's say "Wouldn't It Be Better If" (WIBBI). Become an ethnographer of bureaucracy today! It beats getting frustrated with public services.

Categories

Comment

Anyone is free to comment. Or mail with an article if you want to be an author. I'll post it up and send you a password. This whole thing is supported by Kable.

Authors

Sign up for new articles

Locations of visitors to this page

Copyright

Creative Commons License - Some Rights Reserved

Protect your Bits. Support ORG. Open Rights Group

Designed by...

visit ScoreCommunications Ltd

Statistics

This page has been viewed 1000680 times

Entries: 1523 | Comments: 2374 | Trackbacks: 206
Most Recent Entry: 05/16/2008 10:36 pm
Most Recent Comment: 05/16/2008 11:49 am

Members: 185 | Logged in: 0 | Guests: 30
Most recent visitor: 05/17/2008 02:06 am
Most visitors ever: 443 on 10/12/2005 02:21 pm