@16n jharp
According the the data here: http://www.standard.com/annuities/eforms/13038.pdf
the S&P has increased approximately 7.6% annually since the end of 1979. This even takes into account the disaster of 2008. (It was running almost 9% prior to that)
So indeed, what did go wrong? Could it be that the pensions were inadequately funded on an annual basis? Did the trustees invest in more risky investments rather than diversifying with an index fund? Are the future payouts such that a return close to 8% is insufficient? Why do pensions rely on a return at all, I thought profits/capitalism were the root of all evil?
I do agree with you on the bailouts. What a serious waste of MY money. And yes, since I am actually a taxpayer (you and your liberal friends should try it sometime), it is MY money. If you spent half the energy trying to grow your little sole proprietorship as you do trolling in here with nonsense, you would be as exasperated with the size of government and the waste they perpetuate as the rest of us.
And its okay, I don’t expect any sort of reasoned, logical answer from you to any of this. I’m sure you’ll do the usual and post some snarky remark and add another nickel to your “earnings” jar.
