Life in "Progress" State - Minnesota edition

From the land of 10,000 lakes, where the Little Brown Jug has made more appearances in the state than a conservative politician..............

If you are a current or former state employee in the state of Minnesota, watch out. Your pension depends on hot air, sketchy arithmetic, and the willingness of future taxpayers to make huge sacrifices to cover the deceit, wishful thinking and sketchy math at the heart of your pension system.

According to a recent analysis in the Minneapolis Star-Tribune by Mark Haveman (Executive Director of the Minnesota Taxpayers’ Association), Minnesota’s pension plans, even after recent mandatory increases in employee contributions, are essentially hollow. Even using the state’s extremely aggressive ‘assumed’ rate of 8.5 percent annual return on its investments, the pension fund is about $10.5 billion short of being able to pay off its future obligations. For every $1 the state has promised to pay retired civil service workers and teachers, it expects to have about 79¢. The good fairies and the wood elves are responsible for coming up with the rest of the money.

You know what I looking for in our current slate of republican candidates? Someone who will challenge the media to expose the total lack of fiduciary responsibility by all things liberal. Are these guys afraid offending a liberal voter who wouldn't vote for a republican if you promised free green energy for a lifetime?

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