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America’s Pension Turning Point

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  • Description

    FBN’s Stuart Varney believes pension programs are going to change for the better in the U.S.

  • Duration 2:10
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Here's my take on San Jose California another episode of the pension saga.

It's retired cops and firefighters take home pensions that average 95300.

Dollars plus health -- plus the -- full unused sick and vacation pay.

They can retire well before that sixty.

-- this story before very generous pensions for state workers that are driving cities and states into massive deficit.

The result is just plain terrible for young awoke this they -- being laid off for not hide in the first place in order to pay the pensions of retirees.

It is a generational.

Wealth -- from the young to the old.

-- this continued.

I believe things -- about the change.

Tomorrow the people of San Jose California will vote on restricting the benefits of those city workers who have already retire.

That kind of pullback.

Could set a trend.

Also tomorrow.

The Wisconsin recall vote hinges on up push back against state worker unions they've -- -- wolf who wins his union push back will be followed elsewhere.

To telling items that are affecting vote for us from -- as -- one police office I got right 264000.

Dollar check for unused sick and vacation pay vote -- do not like that.

Second the retired teachers of Milwaukee Wisconsin.

Spend two billion dollars on health get in 2010.

One city one group of teaches two billion dollars and that was all under extremely generous union contracts you think voters like that's.

It's one more of the fundamental problems we are going to have to work out in the next few months what do we do when the money runs out.

Print -- or spend less which way will we.

-- Well luckily we are responsible for our future we still have a democracy we live -- one that's why what happens in San Jose tomorrow.

What happens from Wisconsin -- is so important schools of Wisconsin are saving 220 dollars per student because they no longer have to go.

To an insurance company -- controlled by the unions thanks to Governor Walker it's that kind of sensibility that is changing America.

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