In America, a “National Pension Crisis” Cometh Very Soon! (Video)
BY VOICE OF REASON ·
THELASTGREATSTAND.COM
SUNDAY, JULY 2ND, 2017
America’s pension system is woefully underfunded. Anyone who’s been paying attention to the various news reports can already see that some pension funds, especially in states like Illinois, are already in big trouble. A report by the Fed estimates that private and public pensions are 27% underfunded as at the end of 2016. Others estimate that public pensions alone are in a $6 trillion hole.
In the following video, Today’s Yellow Snow (formerly Right Wing News) looks at the ticking time bomb that is our pension system. The key problem is that pension funds are relying on unrealistic returns, from 6% to 7.5% a year, when their actual rate of return is under 2%. It’s only a matter of time before the pensions have to make drastic benefit cuts to the largest generation in our history, and then the “bailouts” begin, and who do you think that falls on? HINT: Don’t get TOO excited about President Trump’s tax plan promises!
The Rest…HERE
