Saturday, May 28, 2011

CARTOON VIDEO: "What About Bob? Pension Talk with Michelle Obama in 2035"

In 2011, the state of Illinois public pension was on the brink of disaster, with unfunded liabilities upward of $100 billion. By adjusting the benefits and contributions of current workers, the disaster was averted for those then retired. Those workers of 2011 "did their part" and are still working today, many of them into their 80s and 90s. They knew that it was more important to keep the seniors of 2011 in comfortable retirement so that taxpayers would not be burdened with the false promises of past politicians.

Now the year is 2035 and we look backward for lessons as Social Security is on a similar brink. While there are differences, there are many similarities: politicians promised too much, past generations did not adequately fund those promises, and the number of current workers is not keeping up with the growth in retirees. Even today, the retirement age is only 67 and those seniors vote. Politicians are caught in a bind and so we turn to President Michelle Obama, this nation's first female president and husband former president Barack Obama, both natives of Illinois. Knowing the "Illinois Lesson" well, President Obama calls an ordinary American to discuss what he can do. We will call our Everyman "Bob."

Click here for the full cartoon video (it views better in full screen - click the full screen icon on the bottom LH corner of the video):

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