As bad as pensions are, unfunded health care liabilities are far worse

For the real story on all this, take everything you've just read about unfunded pensions and dig that hole ten times deeper. Because the unfunded health care obligations are ten times worse.

According to the Pew research document at www.Pewstates.org , a fiscal assessment of 61 large U.S. cities revealed that while pensions are 74% funded, retiree health care liabilities are only 6% funded.

You read that correctly: cities have only saved 6 cents on the dollar for what they're going to need to pay the health care costs of retirees. And that's assuming health care costs don't keep skyrocketing thanks to hare-brained monopoly programs like Obamacare which lock in guaranteed monopolies to the drug companies, cancer centers and hospitals that now extract nearly one out of every four dollars of economic activity generated in across America.

Here's the chart:



What this means in reality is that health care obligations will have to be abandoned. So at the same time cities confiscate pension funds, they will also abandon health care obligations.

For many retirees, this means they will lose their pensions and their health care benefits at the same time.

This is what will ultimately lead to widespread riots in the streets followed by the police state crackdown that the federal government has been planning with its purchase of billions of rounds of ammunition, thousands of armored assault vehicles, full-auto assault rifles and other equipment to be used on the streets of America. The IRS is now training with AR-15s in order to engage American taxpayers at gunpoint. Even the Wall Street Journal now admits that the militarization of American police is wildly out of control, saying:

Law-enforcement agencies across the U.S., at every level of government, have been blurring the line between police officer and soldier. Driven by martial rhetoric and the availability of military-style equipment -- from bayonets and M-16 rifles to armored personnel carriers -- American police forces have often adopted a mind-set previously reserved for the battlefield.

This also tells you why government is secretly begging for a mass pandemic to wipe out all the elderly people in America: it would save cities and states from bankruptcy! No wonder government loves to promote Big Pharma -- it's the fastest way to kill people off and therefore not have to pay their retirement benefits. Longevity is the enemy of government because the longer you live, the more you collect in benefits. The sooner you die, the more you help government meet its unfunded financial obligations.

I wouldn't be surprised to find the White House one day running a new public relations campaign with the message "Kill yourself. It's good for America."

Or "Suicide is patriotic."

Sources for this story include:
1) My memory, experience, observations and reasoning.

2) http://www.pewtrusts.org/uploadedFiles/wwwpewtrustsorg/Reports/Retire...

3) http://www.forbes.com/sites/joelkotkin/2013/07/12/the-truce-that-coul...

4) http://www.nber.org/digest/mar11/w16453.html

5) http://www.theatlanticcities.com/jobs-and-economy/2012/09/next-big-fi...

6) http://www.breitbart.com/Big-Government/2013/07/19/Exclusive-Rand-Pau...

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