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Where’s it come from?

September 8, 2013

Pennsylvania’s Constitution mandates a balanced budget where expenditures must be balanced by an equal amount of revenue....

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mikekerstetter

Sep-08-13 5:58 AM

I searched for information regarding Fred Keller not participating in the pension system, but could find nothing other than other LTE's from this woman. Not saying it's not true, but one would think if it is true it would be news.

The writer says that Keller funds his pension from his personal income. The truth is that all participants pay into the retirement systems from their pay. There is this misconception that PSERS and SERS employees are getting a free ride at the taxpayers expense. Over the past decade the funds income has come from 69% investment income, 21% employee contribution and 10% from the employer (State Government or Local School districts).

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mikekerstetter

Sep-08-13 6:11 AM

The writer wants to switch all NEW employees to a 401k system. OK, I can live with that. But 1)What are you going to do when the Government fails to put in their share of the money into each employees accounts and 2) what are you going to do about the underfunding for current employees because changing to a 401k for new employees does nothing but exasperate the problem for those currently in the system.

I think it's not a case of 'how do we fix it'. Because if it were, there would be solutions attached that truly addressed the problem. The 'change the new hires' approach is nothing more than a 'we don't get it so neither should anyone else' approach. People like this have no intention of addressing the real problem; they just know that someone, somewhere, is getting something they aren't and they will use any excuse to change it.

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nobud74

Sep-08-13 7:19 AM

Government spending at state and federal levels is completely out of control. There is no desire by any pol to reign in spending and get the problem under control with a vision and plan to fix it. As Mr. Hiller indicated, they are only out for themselves and their supporters. R or D, they are all the same. There is really only one solution to help alleviate the inevitable pain and that is to allow the economy to grow and expand, thereby increasing tax revenues. But, with an anemic recovery (and that is being generous) and looming additional wars, student loan debt and more on the horizon I am not very optimistic.

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CaveFelem

Sep-08-13 7:47 AM

@nobud74 - me either. I laugh when I see the reports of how much a person needs to save for retirement. Even putting money in a savings account yields 1/10 of 1% interest. Stock market? You're left to the mercies of the big boys who know what they're doing.

The money will come from who it always comes from, the working taxpayer. No one cares how we get along, so long as we can keep writing that check, so to speak.

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USABorn

Sep-08-13 12:14 PM

nobud74 - 7:19 AM

"There is no desire by any pol to reign in spending and get the problem under control with a vision and plan to fix it."

Not true. Republicans in PA are trying to do away with the Prevailing Wage Law, to make PA a right-to-work-state, to get out of the liquor business, etc.

Republicans control the legislature, i.e., 111 in the House. It takes 101 to pass a bill. So why isn't it happening?

Email I rec'd yesterday from representative:

Mary - there are about a dozen of the 111, mainly from the southeast where the labor unions remain very strong, who are unwilling to vote for prevailing wage, right to work, and other union related reforms. They believe that their constituents favor prevailing wage, etc. Believe me, we have spirited discussions in our Caucus meetings on these and other issues.

cont'd

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USABorn

Sep-08-13 12:15 PM

What is also disappointing is that so called "fiscal conservative" D members of the House, like Reps Mirabito and Hanna and others from western PA, will not give us a single vote on prevailing wage. We will continue to try to find the votes for prevailing wage reform.

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USABorn

Sep-08-13 1:56 PM

People without jobs can't pay taxes, which hurts the state budget as well as the budgets of individuals.

Anyone notice the latest from the Labor Dept?

"Record 90,473,000 no Longer in Labor Force"

The new figures, released from the U.S. Bureau of Labor Statistics, show a dramatic rise in the number of Americans who exited the labor force, climbing from 89,957,000 in July to 90,473,000 in August.

A country of 313.9 million people - minus children and elderly, and it looks like WAY MORE THAN HALF of those of working age have withdrawn from the working force.

Labor force participation rate is now at a 34-year low.

To be included in the Labor Dept's calculations a person must be 16 years or older, a civilian, not in an institution (such as prison), and someone who has not looked for a job in the last four weeks.

Dumbama & his cronies are batting 1000 at hurting business in this country! After Dumbamacare goes into effect completely , it will only get worse.

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USABorn

Sep-10-13 3:20 AM

USABorn - 12:14 PM

"there are about a dozen of the 111, mainly from the southeast where the labor unions remain very strong, who are unwilling to vote for......."

Amazed no one caught or commented on the fact that the Philly area is once more screwing the rest of the state!

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