the next fiscal year commences 07/01/2013. The $700 Million in savings the first year is based on the application of the revised rules to the prior fiscal year payouts. At least that's how I read it in the N&O.
I gathered the priority will be to pay down that debt quickly; thus the 2015 fiscal year target date.
It's sad that too many posters do not get the message. Taxpayers are tired of carrying the permanently "entitled" who are physically and mentally able to work.
Someone loses a job. That's a shame. But the reality is you may have to reinvent yourself to maintain the current standard of living.
If they think it's bad now, wait until Obamacare really hits in. Already major employers are setting plans in place to reduce work hours for non-salaried employees to below 30 hours per week. Why? So they do not have to provide employee health insurance.
What are those folks going to do? Whine and go on welfare; collect entitlements?
Show me a document, other than a labor union negotiated contract, which gaurantees an employee does not have to work more than 40 hours to maintain the lifestyle they've become accustomed to.
Show me a document, other than a labor union negotiated contract, which gaurantees retirement with an income level to allow one to maintain the exisiting lifestyle at retirement.
What don't people understand? The Post Office has an underfunded retiree health insurance deficit of $48 Billion. It has a daily net operating loss of $25 million.
Bev and the Democrats were like the Pied Piper. Now the bag of hot air is gone and the new administration must make the tough choices.
The policies on a state and national level were not conducive to small business growth.
The bill is now due. It's going to hurt many segments of the populace. They can whine or they can adapt and thrive.
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