Friday, May 14, 2010

Tough choices for California: The Governator proposes eliminating welfare-to-work program, reducing state subsidies for in-home care for elderly, reducing state subsidies for child care (i.e., day care), 5% pay cut for all state employees, 5% pension plan contribution increase, and more...

Just wait about 15 years. This will happen at the federal level. I don't just mean proposals. Those are starting to be made already---see Sen. Ryan (WI-R). I mean proposals enacted: the retirement age will certainly be at least 70 for people my age (born in 1983). Federal employees will probably get across-the-board salary cuts. Oh, and taxes will certainly be increased for us all. Moreover, p(VAT)>.5.

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