Maybe the government will just seize your house and give it to a government worker

It turns out government pensions heavily invested in real estate — before it crashed. So you, as a taxpayer, are on the hook to make good on those bad investments. Reports Forbes:

If the setbacks for pension funds are severe enough, it could force state governments to raise taxes to cover shortfalls…

Well, many states, including California, allow “eminent domain” — seizing your property — not only for government uses (such as schools), but for private uses. Led by Gov. Arnold Schwarzenegger, last month the government tricked voters into voting against Proposition 98, which would have banned the seizures.

So maybe the government workers will just send a SWAT team to your home, kick you out, and install the government worker whose pension collapsed. He has to live somewhere, doesn’t he? He worked for us all these years, didn’t he? Providing excellent, efficient government service at a low cost?

And besides, government workers are better than the rest of us. That’s why they’re in government: They’re better. So they deserve your house.

Start packing.

Federal Govt. $53 trillion in debt on socialism promises

Socialism always goes bankrupt. Look at what happened to the old Soviet Union.

It won’t be long before another socialist entity, the U.S. government, goes belly up. According to a new report by the U.S. government itself, as described by AP:

The government is promising $45 trillion more than it can deliver on Social Security, Medicare and other benefit programs….

That’s $45,000,000,000,000.00

The $45.1 trillion shortfall has increased by nearly $1 trillion in just one year, according to the administration’s “Financial Report of the United States Government” for 2006. And, it’s up 67.8 percent in just the past four years. In 2003, the shortfall between promised benefits and revenue sources over a 75-year period was put at $26.9 trillion.

The shortfall includes Socialist Security and Medicare in addition to Railroad Retirement and the Black Lung program.

When the gap in funding social insurance programs is added to other government commitments, the total shortfall as of Sept. 30 represented $53 trillion, up more than $2 trillion in just a year, the report said.

That’s $53,000,000,000,000.00.

Your children and grandchildren will be paying that — unless the government goes bankrupt, which it will. Why should your children and grandchildren pay for government workers who aren’t even shirking anymore, but retired?

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Just a little problem of $200 billion to $300 billion

Even as Gov. Arnold Schwarzenegger-Shriver-Kennedy keeps signing red-ink budgets and pushing for his wildly expensive socialized medicine scheme, the state’s finances keep getting worse. Former state Sen. Keith Richman, who’s long been on the top of the issue, says state and local unfunded government pension liabilities are from $200 billion to $300 billion.

That’s up to three times the whole state general-fund budget of $100 billion.

It’s money California’s kids will be paying their whole lives — unless they leave the state.

This is the issue Arnold should be grappling with. Instead, he’s pushing it off into the future, after he leaves office, and instead making matters even worse.

Recall Arnold.

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