Congratulations to the voters of Wisconsin for re-electing Governor Scott Walker Tuesday. He had been cast as an evil villain for taking the necessary steps required to keep the state solvent and managed to prevail despite an organized attempt by labor and other liberal groups to oust him. It was interesting that 38 percent of labor families actually voted for Governor Walker despite the fact that 100 percent of labor money generally goes to Democrats. These families recognize the fact that with 78 million baby boomers reaching retirement age changes must be made to pension plans to keep state and local governments financially viable to meet future obligations.
The real culprit is not Governor Walker or other current governors but past governors and legislatures that promised these unrealistic pensions in an effort to garner votes. It is easy for politicians to promise fat pensions and then not set aside sufficient reserves to fund the pensions 30 or 40 years down the road. (Looks a lot like Medicare and Social Security).
In March I began drawing my pension from a company that I worked for from 1972 to 1985. When I left in 1985 the company purchased an annuity from a large Insurance company so my pension was fully funded 27 years before I began receiving my benefits. Ironically that company is headquartered in Milwaukee, Wis.
Until local, state and the federal governments are required to fully fund worker retirement plans politicians will continue to, "kick the can" down the road in an effort to be re-elected.
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This opinion is right on the money. Regardless of your party affiliation, it is an undeniable fact that promises made by political leaders in the past have appeased Union demands regarding benefits to employees, including pensions, are unstatainable for future workers.
That said, it is tragic for a man (or woman) to spend their working life assuming their retirement funds would be there as promised and then find this not to be the case.
Gov. Walker has taken a bold position on this and has, according to recent reports, emboldened other state and city leaders to follow suit.
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Gov. Walker has been recorded on audio and video several times stating how he was out to kill the unions. He blew a hole in his state budget with tax cuts for the well connected then blamed it on the public unions.
He had $20 million more than his opposition with 70 percent coming from outside his state. Yet he could only manage a 6 percent lead.
Anyone who thinks Scott Walker is a man of the people should listen to audio of the call he thought was from billionaire David Koch.
Scott Walker is the Republican template for the best government money can buy.