Maui: TIP of an ICEBERG in waters of ignorance:

[_Bach]

https://www.zerohedge.com/news/2017-11- ... tributions

Just the tip of the iceberg for progressive leadership on communities (and anywhere else) and their lack of backbone to manage the obvious in front of them! This is classic progressive thinking. Tap into the wallet of others for mistakes generated by years of ignorance and lack of their fiscal knowledge - let alone liberal ability to manage anyone’s hard earned dollar. But let’s continue to give liberals control over those who work hard to actually create an economy and jobs!

Have no doubt that’s the preference of full time posters here!

[_cwald]

What?

[_honorentheos]

This is just how the rich and famous roll, cwald. Bach is kind enough to channel how the job creators view current events from time to time.

[_cwald]

Ok. That's some weird s***.

[_honorentheos]

Buckle up. ;) it only gets weirder when someone replies.

[_cinepro]

https://www.zerohedge.com/news/2017-11-07/pension-crisis-paradise-maui-residents-outraged-over-52-spike-pension-contributions

Just the tip of the iceberg for progressive leadership on communities (and anywhere else) and their lack of backbone to manage the obvious in front of them! This is classic progressive thinking. Tap into the wallet of others for mistakes generated by years of ignorance and lack of their fiscal knowledge - let alone liberal ability to manage anyone’s hard earned dollar. But let’s continue to give liberals control over those who work hard to actually create an economy and jobs!

In politics, a mess that big can't be created by just one party.

FYI, here's the source article about the Maui pension problem:

http://www.mauinews.com/opinion/columns ... has-begun/

I've said for years that when it hits the fan, the crisis will be sold as a threat to cherished public services like libraries and social programs. They'll never actually say "Hey, we need to raise your taxes and fees to cover this huge pension obligation!" It seems that Maui tried to do just that, but got caught.

[_Bach]

In politics, a mess that big can't be created by just one party.

FYI, here's the source article about the Maui pension problem:

http://www.mauinews.com/opinion/columns ... has-begun/

I've said for years that when it hits the fan, the crisis will be sold as a threat to cherished public services like libraries and social programs. They'll never actually say "Hey, we need to raise your taxes and fees to cover this huge pension obligation!" It seems that Maui tried to do just that, but got caught.

From the article you posted:

“This amounts to a total of $36 million in extra payments by Maui County over the next four years alone — and its contributions are set to remain just as high every year afterward.

Williams said the extra payments were needed to help the public pension system avert a crisis in unfunded liabilities, currently estimated at about $12.4 billion.”

Are you serious son?!?! Extra payments of $36 million in an attempt to correct mistakes totaling $12.4 Billion!!! What is that: less than 1/10 of 1 percent?!!!

How the hell did liberals GET the deficit to $12.4 billion to begin with????

Please folks, let’s not think like liberals! Where was the outrage decades ago?!?! Absolutely no ability in managing taxpayer dollars. Any different w our federal govt? Just aske Obama!!!

Cinepro, is this your final answer?!!!

Shades, we really do need a huge investment in some intellectual cap ex on this board!

[_cinepro]

How the hell did liberals GET the deficit to $12.4 billion to begin with????

One analysis of the Hawaii pension problem suggested these possible fixes to help close the gap. The fact that these are suggested fixes means that they are currently allowed, which answers the question of how they got there:

>> Provide more flexibility to alter employee and employer contribution rates, depending on the recommendation of the pension plan actuary.

>> Protect against pension spiking.

>> Cap benefits at reasonable levels.

>> Eliminate overtime and vacation pay when calculating benefits for current hires for service yet to be rendered.

>> Base benefits on the amount of money contributed toward the plan.

http://www.grassrootinstitute.org/2018/ ... on-crisis/

It looks like one of the problems with the fund isn't directly related to the amounts it pays out. Hawaii has allowed the cities and counties to underpay in years when investment returns were good, and the state has taken money out in good years as well. So the fund would be better off if it had been allowed to grow to its full potential over the decades:

In 1967, a unique funding formula set up by Hawaii lawmakers and approved by the governor, began to drain the State and County’s contributions for the general fund, leaving just the 8 percent of investment returns in the fund as mandated by law.

The “excess” interest earnings went to cover a ballooning city and state operating budget instead of remaining in the fund so investments and interest could be optimized.

So while every other retirement fund across the country was using the economic good times to boost revenue for their retirees through returns on their investments, the ERS managers and board watched as their fund was depleted each year for 38 years, with $1.687 billion skimmed, according to ERS administrators.

The money was used for everything from building parks, paying salaries, to funding lawmakers’ favorite social programs and charities.

http://www.hawaiireporter.com/hawaii-em ... ifference/

[_Dr. Shades]

Shades, we really do need a huge investment in some intellectual cap ex on this board!

Why? It's clear that your intellect is already capped.

[_Ammon Bundy]

How the hell did liberals GET the deficit to $12.4 billion to begin with????

Please folks, let’s not think like liberals!

Cinepro, is this your final answer?!!!

Shades, we really do need a huge investment in some intellectual cap ex on this board!

Cinepro is a communist.

God bless you Bach. Yer a good kid. And may god bless this great nation, the United States of the America.