(#475) The Pension Bomb
As posted to the John Stossel YouTube Channel on 10/21/18
Run time (6:41)
State and local governments face a $5 trillion dollar unfunded pension liability. In other words, politicians promised workers $5 trillion in retirement benefits, but government doesn’t have the money.
So far, neither politicians nor the unions are willing to accept this. John Stossel warns: one day, no matter what the promise, we simply won’t be able to keep it.
John Stossel is an American consumer television personality, author, and pundit, reflecting a libertarian political philosophy and view on economics which are largely supportive of the free market.
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Roger Rossmeisl, CPA, brings over 40 years of experience helping small business owners who have outgrown their current CPA firm and larger companies seeking responsive, cost-effective solutions they’re not receiving from their current CPA Firm. He goes beyond tax compliance, explaining the “why” behind the numbers and their impact on cash flow and other decision making.
An avid follower of federal monetary policy, Roger adds insight into how government actions affect business and wealth. With a niche in franchised new vehicle dealerships, he has served over 100 franchise stores and groups through decades of evolving IRS rules and legislation.
