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Apr 21, 2009

Go(vt) for Broke....

In theMarianas Variety today, the local government is said to be broke to pay the Retirement Fund its actuarial rate but will be able to pay on almost 1/3 of the actual rate....

The government owes $156 million plus 25 percent penalty, as reported, to the Retirement Fund.

I guess when the local government has budget problems, the inevitable domino effect is indeed "in effect." However, does this financial brink make the government get away from its responsibilities?

Every one has to make sacrifices and needs to understand the local situation.

You tell me....

Story here....

3 comments:

the teacher said...

Will unpaid retirees demand a part-time or unpaid legislature after this debacle?

How can we pay high dollar lawyers to sue America and give politicians huge discretionary accounts and not apply government employee’s monthly deductions to the fund?

Do you think we could talk America into federalizing our retirement fund?

Anonymous said...

WHY THE HELL IS THIS BITCH CARMEN FATNANDASS BEING GIVEN A JOKE OF A EVALUATION FORM. THIS BOR AND STAFFS OF NMC ARE ONLY GRADING CARMEN ON ACCREDIDATION. WHY THE TEACHERS OF NMC ARE GRADED ON EVERYTHING BUT THIS BITCH IS NOT?

SOUND TO ME LIKE A COVER UP.

GET RID OF THIS EVIL BITCH BEFORE SHE DESTROY NMC.

bigsoxfan said...

In one way; it gives incentive for gov't employees to toe the adminstration line as they can't depend on a retirement income. So, toe the line or go on the unemployment line until your side comes into power and you are employed again. Decent strategy except for the worldwide downturn eclipsing the local problems and the difficulties involved in explaining to the populace your embarrassment of a senior member of government being brought up on federal charges.

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