The promises made over the years
to federal, state, and city
government workers have included
deferred compensation for their
hard work, in the form of pensions.
The governments have not been
"funding" those pension plans
properly (or the funds have
been lost due to having been
invested in Wall Street.*)
It will take $1,400 per year per family
for the next 30 years to make up for
that lost funding (or lack of funding).
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Thank goodness their Social Security funds
were not invested in the stock market.
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