Fox Business
Expand
Browse All Video
Watch Live

You're watching...

America’s Pension Mess

Details

  • Description

    FBN’s Stuart Varney sounds off on corruption in the pension system.

  • Duration 1:20
  • Date

Clips

Also in this playlist...

Latest Video

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The pension mess that is unfolding across the nation may eventually bankrupt some of our major cities.

And -- many reasons for this but what stands out for me is the corruption about political class.

Here's my take.

In Chicago former mayor Richard Daley paid into the legislatures pension fund for just one month's.

For that he added 50000 dollars a year to his pension full life.

What he did was not illegal.

But one month pay in with a lifetime payout was a rule created by politicians -- politicians act.

At the expense of tax ideas cities and states are going broke in -- because of the the analogy of politicians.

The money has run out and the shady deals are coming to light.

The most respected Chicago journalists took to the airwaves last night and said metadata -- legacy as -- tainted for have a and so it happens.

So too has the standing of local politicians everywhere -- health and education services are being -- so we can pay the pensions and everywhere reform.

He's opposed and blocked we have yet to hear from that daylight when we do I would want to hear an apology.

And I want the money -- talked and I want to pay phone plan that will put the public sector on the same footing as me.

Because you live on my money and I'm tired of paying.

And that's my take.

Load More