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Mar

7

Fat Benefits for State Employees

March 7, 2006 |

NOTE: For some reason this article was bumped off our site from December 29 — sent to a holding area for future posting. Its only been a few weeks since then, and the topic is still timely, so we’re going with the story as is!

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The VigilantInvestor.com was covering a new law that will force all governments to disclose healthcare benefit promises on the balance sheets. Up till now, these promises were made, but could be tucked away as little footnotes.

Now the Trib Review is noting that PA Lawmakers awarded themselves free lifetime healthcare so long as they were older than 50 and had ten year’s experience. The cost for all state employees in 2004 was already $345 million, a figure likely to soar in the future — especially with such generous provisions that would bankrupt any ordinary business in the free market.

But leave it to governments to spit in the face of economic gravity. After all, the taxpayers are always there to pick up the tab — and there are plenty of voters at the trough who will gladly suck that taxpayer for all he is worth for as long as possible.

Anyway, Fast Eddie’s office admits that he has no idea how much the taxpayers’ liability will be — he’s now negotiating to hire a consultant to find out. Projections, according to The Trib, are massive. You’d think this would have occurred to someone before, but when everyone’s enjoying a free lunch, who cares about whoever is stuck with the tab!

As for being more prudent by cutting back on some of the largess — well, Fast Eddie’s budget chief, Michael Masch, knows better than to bite the hand that feeds him and his boss. Says Masch, “In general, government will be the last provider of retiree pensions and health care to cut back to terminate those benefits.” He added that this promise is too important of a social contract.

You bet — what self serving politician could afford to lose those votes?!?

That, ladies and gentlemen, is Government!


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