Thursday, June 12, 2003

This is ridiculous. Investment losses raise public costs of pensions is the headline, but it's about local taxpayers next year will be paying $60 million more for the pensions of Rhode Island state workers and teachers. Supposedly it's a result of the pension fund losses that have been incurred as a result of the recent stock market woes. Guess what? We've all felt the pain, and why should workers who rely on taxpayers for their wages also be any better off than us when it comes to their retirement. Let me get this straight, I have "lost" money as a result of the down market. So has Joe State Worker, but Joe State Worker will get bailed out by taxes paid by me. Where is my relief? Oh, just suck it up? Well, what's good for the goose...

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