More on Government Retired’s Healthcare

The Wall Street Journal

Accounting Changes Proposed for State, City Retiree-Benefit Plans

By Michael Rapoport – June 16, 2014

States and cities could be forced to report at least half a trillion dollars of additional costs on their books under proposed rules that would shine a harsher light on the growing expense of retired workers’ health insurance and other benefits.

The proposals, unveiled Monday by an accounting-standards group, would require state and local governments to add retiree-benefit promises to their balance sheets, making governments’ overall financial position appear worse. In addition, many governments would have to change the way they calculate their benefit obligations in a way that could make their shortfalls appear bigger than they do now.

The move by the Governmental Accounting Standards Board is intended to give taxpayers, policy makers and investors more information about the toll that retirees’ promised benefits will take on states’ and cities’ finances. The proposals wouldn’t require governments to raise more money to pay for retiree benefits, and they wouldn’t force governments to change the level of benefits they provide.

From earlier today on CNBC:

CNBC’s Rick Santelli speaks to David Vaudt, GASB chairman about the costs and liabilities of retiree benefits

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7 Responses to “More on Government Retired’s Healthcare”

  1. Donald Maroon Fouler Says:

    We have mortgaged our descendent’s future to pay benefits to one generation of privileged citizens slurping from the public trough.

    • Oldman Says:

      Are you not one of the “privileged” citizens? I agree we have really messed up our future generation with our want it now attitude.People need to pay their own way and quit asking big Gov. for everything,don’t you think. Goverment should follow the constitution and nothing else. Gov. should provide defense , back the money with gold,and quit giving away everything to foreign country’s that do not agree with our way of living. I believe if somebody comes to this country,they should come to live like we do,not bring their troubles here. Our borders are open to anybody and should not be. We have a President that is doing his best to destroy this country,and nobody is doing anything about it.People we had better wake up before it’s too late if it’s not already. We need to go back and follow the constitution as it was written to a tee,then we would still be the great country we were supposed to be. Just remember all the people that have died to get us were we are now,did they die in vane,I hope not. I’m 73 and this country is not what it was when I was born.I have children,grandchildren and great grandchildren,if something doesn’t happen soon they are not going to know what a great Country we had at one time.I’m off my stump now.

      • Donald Maroon Fouler Says:

        I am not privileged. You must have me cornfused with someone else. The tenets of liberalism have destroyed this nation’s future and if continued unchecked they will destroy this nation here and now.

      • Oldman Says:

        This might belong here,but something is wrong.I just got a letter from Toyoto about my truck,there were two copy’s one in English and one of some other language.What ever happened to our country when we need more than one language? This is America we speak English,period.People please wake up,this is our country,the people that come here should learn English or stay home. We are becoming a third world country mighty fast,don’t you think? Thank you

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