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Tuesday, February 22, 2011

Greed is good except when it's teachers

Here's John Hinderaker, one of the more popular right wing bloggers.

It is infuriating to see our President weighing in on behalf of overpaid, underworked and greedy members of public employee unions. They are among the more privileged members of our society, but, as full partners in the Democrats' scheme to suck up ever more money even if it bankrupts the country, they have Obama's complete support.

Public employees like teachers don't do anything useful other than prepare tomorrow's adults for life and trivial things like that.

Here's Hinderaker a couple of years ago talking about $218 million in bonuses given to AIG employees after the company took a $170 billion bailout from the government. All they did was help blow up the economy, costing public pension funds $900 billion in the process.

As I explained on Bill Bennett's radio show this morning, I don't think there is anything wrong with the AIG bonuses, and the people who got them should keep them.

Fucking up teh economy - good, teaching children - bad. Class war has broken out in America and it's not the workers who started it.

What few people are aware of is that about 25% of public employees are not eligible to collect social security once they retire. For those people, their pensions will be their only source of income once they retire and for which they contributed throughout they working years. Now Republican politicians want to force states into bankruptcy which will cause wholesale cuts in pensions.

Read my earlier post with a link to a piece written by a New Jersey policeman on how state politicians looted their pension funds along with Wall Street's profligacy, causing the fund to lose 40% of its money.

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