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Pensions Timebomb In America – “Global Crisis” Cometh





  1. Bad and corrupt management mostly is the real answer as to why pensions are in huge trouble.

    Starting with California
    “CalPERS’s three-decade-long transformation from a prudently managed steward of workers’ pensions into a highly politicized advocate for special interests.”
    “CalPERS has become an outright lobbyist for higher member benefits, including a huge pension increase that is now consuming California state and local budgets.”
    “CalPERS has also steered billions of dollars into politically connected firms. And it has ventured into “socially responsible” investment strategies, making bad bets that have lost hundreds of millions of dollars.”
    “Etc” (2013 information)

    Social Security funds (Remember it was a contract between those who serve within our government and the people as a “trust fund” held for the people that paid into it). So what happened? Congress critters cannot stand to see money not being used by them for some political purpose. Back in the 60’s & 70’s they “dipped” into it to pay for alcoholics that could no longer work, for people who were to fat to work (yes, literally), for drug addicts, etc. They added some veterans stuff, but few I know that are aware of it is bothered by that part, but the rest…. Throughout the decades they added “immigrants” that never paid in a dime. Then they added illegals, etc as the latest, all who has never paid in a dime.

    Ex Prez George Bush ‘borrowed’ $1.37 trillion of Social Security surplus revenue to pay for his tax cuts for the rich and his war in Iraq, money that he never paid back.

    Paul Craig Roberts, who was the assistant Treasury secretary under Reagan, he warned the people that the bonds are harbingers of more tax hikes and more public borrowing to come from SS.

    Remember, those that serve within our government changed the contract with no input from the people, what they did was make a law that Social Security “surplus” was to be converted into bonds, and the cash from those bonds then was/still is used by the Treasury to pay for government expenses. That was NOT the deal with the people, not the contract they made.

    What has happened to the people’s money? Misappropriation of funds which makes every single person still living personally responsible for those funds – meaning that those who serve within the legislative branches who created this mess, who did NOT stop this mess per the contract with the people, etc can lose everything they have to pay that money back – and should. The people were not asked when they made those decisions, which makes it a form of theft (misappropriation of funds) so those in charge of protecting and caring for the people’s money instead spent it where ever they decided to with NO input from the people whose money they were “borrowing”. I cannot cite a lot of stuff at this time, because most is on an older computer (still have, but stored).

    “SEC. 3. (a) From the sums appropriated therefor, the Secretary quarterly to be paid of the Treasury shall pay to each State which has an approved plan for old-age assistance, for each quarter, beginning with the quarter commencing July 1, 1935, (1) an amount, which shall be used exclusively as old-age assistance,”

    “SECTION 201 . (a) There is hereby created an account in the Treasury of the United States to be known as the “Old-Age Reserve Account” hereinafter in this title called the “Account”. There is hereby authorized to be appropriated to the Account for each fiscal Determination of year, beginning with the fiscal year ending June 30, 1937, an amount amount as an annual premium to provide for the payments required under this title, such amount to be determined on a reserve basis in accordance with accepted actuarial principles, and based upon such tables of mortality as the Secretary of the Treasury shall from time to time adopt, and upon an interest rate of 3 per centum per annum of
    compounded annually. ”
    “(b) It shall be the duty of the Secretary of the Treasury to invest amounts credited to Account as is not, in his judgment, required to meet current withdrawals. Such investment may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States.”

    Basically retirement pensions, Social Security, etc would NOT be in the shape that they are found in today if those charged with its management had actually ran it as per the contracts with the people. That did NOT happen at the state level, nor the federal level. Which IS the legislative branches problem because they allowed agencies to misuse money held in trust (much like the land was held in trust for the people/states and now the feds claim it). Basically I do not have the answer to the total problem, but for a start charges of Misappropriation of funds would be a nice start; then the confiscation of those who serve within the agencies, the Congress to repay that which they had no LAWFUL authority to misuse. They no longer need to be serving, though those who serve and did not correct the problem, or try to, are also responsible for the unlawful actions of their predecessors when they did NOT remedy their unlawful actions against the people. That is true of all who serve within our governments.

    Example, the Federal Reserve is forbidden in writing, (not named, just the actions it has taken) and every single congress critter is PERSONALLY responsible for not changing that as is required by the US Constitution. When they did nothing, they aided and abetted.

    Example, Unlawful wars – it is in writing that ONLY those who serve within the Congress can declare war and send out the American people to fight other nations,etc. It is also in writing that wars these actions can be funded for two (2) years. Again, those who serve within the legislative branch are PERSONALLY responsible for the trillions we spend militarily. But, I believe, though may be wrong in this case, that those in the US Military highest ranks, within the Pentagon, within the DoD are all also personally responsible – they LIED, etc to keep us in wars that caused deaths of Americans and of the people of foreign nations. Someone with way more knowledge of this such as Dr. Vieira might have better ideas in the lawfulness of this.

    Article 1, Section 8, Clause 12: “To raise and support Armies, but no Appropriation of Money to that Use shall be for a longer Term than two Years”.

    How many decades now have we been in unlawful wars that are forbidden constitutionally?

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