Speaker 1: Are you a retired government employee with a pension. Well,
Speaker 1: the New York Times is reporting on a big problem
Speaker 1: in places like Oregon, New Jersey, Connecticut, and Kentucky because
Speaker 1: government employee pension costs are out of control. And you
Speaker 1: know what that means. Now, these states and a lot
Speaker 1: of cities are having a hard time paying for day
Speaker 1: to day operations and basic services because they're paying retirees
Speaker 1: so much. State run pension plans are far outpacing economic growth,
Speaker 1: which is really good. It's not uncommon for plans to
Speaker 1: pay retirees a hundred thousand dollars a year and up
Speaker 1: for not working for the rest of their lives. And
Speaker 1: take the case of the University of Oregon football coach
Speaker 1: who was hired in stayed with the team thirteen years.
Speaker 1: Today he draws forty six thousand dollars a month in
Speaker 1: taxpayer funded pension benefits. It's a good deal for him,
Speaker 1: no doubt. Now. The upshot, says one government official, is
Speaker 1: that state governments are no longer trying to do more
Speaker 1: with less. They're trying to do less with less. What
Speaker 1: a concept truth is. If they had decided back then
Speaker 1: to do with less liberalism, they wouldn't be forced to
Speaker 1: do with less money now, and pensioners wouldn't be quaking
Speaker 1: in their boots over ending up with nothing somewhere down
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