So politicians are outraged — absolutely outraged — that AIG would award millions in bonuses to executives, mostly on our dime — yet don't say boo about billions in public pensions, entirely on our dime?
Fat cat bankers getting fatter at our expense — bad. Fat cat public pensioners getting even fatter at our expense — not bad?
So it's OK for government workers to often retire for life on a pension higher than they ever earned in their working life? The San Francisco police chief retiring on $200,000 a year. The Rhode Island judge retiring on $138,000 a year — a bargain because had he waited another couple of years, it could have been $184,000? The New York train conductor leaving at $120,000 — each year for the rest of his life.
Would that these be anomalies my friend. They are not. These aren't bad people. I'm sure good public servants all, now getting very good retirement packages paid by U.S. taxpayers all.
Yet our politicians would prefer to make a stink over bonuses paid at a company 80 percent owned by us, than even more eye-popping retirement packages paid 100 percent by us.
Methinks they have a funny way of selecting their villains.
Now, I’m all for going after abuse where taxpayer dollars are involved. I'm also all for keeping it consistent. Private enterprises lose their right to bitch when they come to the public dole when times suddenly change. Public enterprises are no different, living on the public dole and times really have changed.
You know, there was a time when perhaps these promises and generous packages befit the times. But times change. And as scores have discovered in the private sector, those packages change too. They've got to.
So by all means, bitch at AIG. It's an easy target. But be consistent. Bitch at those public pensions.
They're an even easier and bigger one.
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