Chicago Tribune echoes the Health Ranger, warns that government pensions will evaporate before many retirees can collect
by: JD Heyes
NaturalNews.com
Saturday, April 29, 2017
The so-called “mainstream media” – which claims to be the first and last voice in all societal trends – is just now catching up to an issue that Natural News founder/editor Mike Adams, the Health Ranger, noticed (and has been following) for months now, and that is this: Pension funds across the country are about to run dry, leaving millions of Americans economically strapped.
In an April 17 column, Trib writer Terry Savage notes that scores of Americans who are working now and are contributing to a pension fund are not likely to see a single dime of that money by the time they retire, because the payouts promised long ago are outstripping the funds’ income.
Citing a recent study by an organization called Truth in Accounting, which examined the health of 237 municipal pension funds around the country, Savage reported that many of these funds are approaching the point of insolvency.
“Although it has taken decades for many of these pension funds to get into such bad shape, only now are the details being revealed, says Sheila Weinberg, president of Truth in Accounting and a CPA who has dedicated her life to requiring full and useful disclosure of federal, state and local debt obligations,” Savage wrote, adding the disclosure that she is a board member of the organization.
This new data will shock and scare anyone who is expecting to receive a pension when they retire from their public sector job (here are the latest figures, from 2015). And yet, it won’t surprise our regular readers because Adams has been on top of this issue for months.
In a November podcast, Adams warned that most public pension funds are teetering on bankruptcy and that, without major changes, these funds will fail.
“I’ve been talking about this for many years. If you’re depending on a pension, your pension is going to be wiped out,” he says at the start of his podcast, noting further that the so-called “mainstream media” has largely been silent about this approaching fiscal disaster.
Indeed he has. As long ago as January 2008, Adams predicted that public pension funds would either go bust or have to be dramatically scaled back because they would run out of funds:
The Rest…HERE
