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Program about how pension and health benefits from government retirees.
-- bankrupting literally the states.
We're joined now by Democrats state record Pennsylvania who's looking to pull look blog -- what he calls a ticking time bomb against the taxpayer.
Strong -- indeed we welcome representative Rick -- -- from Pennsylvania so welcome the program very good to have you witness.
I think you just what do you point something out -- there on all the legislatures around the country who was saying.
Let's cut back on the benefits that way of going to pay new alliance you'll going much.
-- saying we have to cut back on the benefits that are already being paid to people who already retired and to -- -- -- contractually obliged you'll go along way with us.
Well actually I'm not wolf we're talking about is he can impair a contract.
Constitutionally the courts -- side.
That you can't go back on contracts that already out there.
But we do have a problem with an unfunded.
Liability that's a -- the end and Pennsylvania.
It's gotten particularly bad we're looking at will right now -- an 800 million.
Two the pension fund by 2013 we're looking at six billion dollars -- not okay -- may not -- big he.
I understand where you're coming from you you're not saying it take back some of these benefits that in fact you are saying that because you're saying look the money isn't -- You don't wanna be hostile and half the people who -- relying on these payments fit in retirement but aside Don you're making a very clear statement.
The money is not that we don't have it.
So we can't -- it.
Well what I said ticking time bomb against the taxpayers.
It means we're gonna have to pay for some way one way or another it is an unfunded liability which we have to pay.
Obligated to do -- -- So.
But what we got to do is really look forward.
You know we cannot sustain what we're doing.
Yet but what is it you you can't that's not good enough.
You you don't have enough money and you can't raise taxes to the point what you'll get that money is if you did you'd ruin your own economy you haven't got the money.
And that's what concerns me that's what's keeping me up that night is the very fact that.
Where's this money gonna come from and listen I'd.
I think we we need to make sure our employees are taking care of they have done a great job.
Really owe it to them -- we cannot take that away.
But you what that's -- on the got to figure out where that money's gonna come from.
I on the senate side -- you you're on the left of the -- -- believe used to work with senator Paul Wellstone.
The -- -- -- no no problems -- that that's what you'll coming from and yet you lost saying essentially you're saying that the unions have got to get back.
Anyway you slice it that's what you site they they're gonna have to do this I think you'll you'll probably going to be very seriously attacked on the next election.
Well I think we're gonna have to look at it a different way we're gonna have to put everything on the table employer contributions.
Time going and we're talking about we're going forward.
You gonna look at public retirement age the final average salary but that's going to pull yourself on the table -- yeah I know look back -- going -- -- The problem is now.
It it absolutely.
Absolutely -- -- -- -- -- -- we have all gonna you gonna come to the point when you've got to say we don't.
Haven't we can't borrow it we can't raise it so we camp pages it's common.
We are obligated to do that we can -- -- contract.
The constitution doesn't permit Ford and also the judiciary doesn't prove that for the so.
We are obligated -- on the -- we got to figure out how to do it.
We have we appreciate you being -- them at least tackling the problem facing up to it -- richt had to whip Richard Davis thank you so.
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