Pension Reform

The national UB TF squared. The American one or that you -- your home your vibrant. Itself on pop pop pop it's not that I want what it's sort of want to make sure that everybody. Who is -- yeah. They've got a chance of success to what. -- a global world. It's proving that the well as the template -- Steve mister president that you would take it -- about your day well thanks god that filled one. To -- and two thunderbird now civilians or remember Julio. When Julio Julio and I -- presidency. I don't oh gracious god --

He's so steps alone doesn't migrate to Iraq -- they remind -- tomorrow is Ash Wednesday the first day of land. But it coax would have a music -- economy he gives me he gives me the one finger salute. I eyes lighting a -- sponsoring young -- what man went zero. And just reminded him avoid the apparently doesn't usually finger the other -- one he doesn't like to be inconvenienced and is to salute life upper SA Charlotte area they got. -- By the way. -- I do I do want to -- share share -- listeners that during the break I was happy to once again reach into my pocket and subsidize cooks in the current season to -- habits he drinks Diet -- growing them on and he's insane should really do just the need to be but the reason I was happy that there is that's good -- are happening continue to -- that this nation is the accurately characterized. Pods approach. To politics and public policy I get as angry as anybody else I get at least as angry. As Todd but he said Todd alikes wanted to be wrestle mania. Where represented of Finneran proposes -- and represented Feinberg doesn't like it he jumps up on his desk with a chat slams and -- resented -- does a fly in -- drop that would be -- would be.

Incredible improved hi -- are just. -- If they don't do it I'll be embarrassed because I was gone out on a -- head gonna do you think it's five pressed them to rob us or fifty years and then when there's a public outcry changeable on allows them to rob us and you say aren't they incredible. What these public servants when -- I -- okay. Half intelligent at the average public pension is 23000. Dollars a year for a look out a career of duty -- 540 years of working. -- work highway department. The environmental agency wherever it might work. 23000. Dollars you might think that's outrageous one no I -- not it's not already knows -- knows this stuff they -- is outrageous the outraged know what's outrageous is one no politician should get paid for not working. It's bad enough that we paid him for healing and are not working yet -- not working unit -- boys got Bulger working you'd think promises get paid right now. He's admitted he's thrown under Randy you know it's not -- two to fifty it's less than to wait to London to give us a number. I think it's probably about a 180. -- hundred he's getting a 192000. Dollars a year for not working. He's retired yeah he did -- he wise he is a service we don't want to for 35 years give us five how is go back to what you do how about the voters wanted to. How about that. How about the fact that is voters don't have -- we voting for him we have a -- the yield on the air the we are about this system how about that anyway just now. He was the best president of the University of Massachusetts that did ever bats had -- all right away and that's fine but when he's gone he -- get any extra money okay them for working only not for not working so no pensions -- exactly how to get rid of the pension system anyone is working a legitimate job not a politician -- legitimate job. -- Tenacity and courage to when you were 28 years old to run for the say represented to run for Sarah and somehow you want and and then that -- had a guaranteed job. For the rest your life wasn't guaranteed by the editor and it every two years -- anything once you're there the power of incumbency is near absolutely not true. While I be able to get knocked off. A fair amount. Give us a percentage. 1% a year to know you're on no no no more than that when he's -- and knocked off. This is losing a primary challenger they get knocked -- a one of the it -- one of the and nine Republicans are living and breathing in the state -- issues could be any of -- Wednesday it generally depends upon the livid -- the dynamics of the economy when the economy's -- reasonably well the incumbent -- to better -- that's not power of incumbency obviously -- reduces his note that I -- question -- at the same time when you -- incumbent when you do this when you take that bold step that I'm challenging you.

There's nothing bold about whether it's just a man he went out and you'd have to recognize this turnaround and I criticized football coaches all football season just doesn't mean I have to go apply for football coach job there's no connection between those two thoughts as much as you revel in -- and you had to do that nobody should -- if sustained could do. Evident that I don't have a have a modest I -- a better job I had any other so then why don't you stand up into eight YU. That question is no connection if I enjoy this as a better -- I get to shine a light and clarify what you model but you don't make any decision. You may exist or just all the time no you don't sure.

No you don't so you have a broken transportation system and you say no tolls. -- twenty dollar to -- ridiculous. All Israel notice they always say no I have I have more -- wrestling -- decision then -- to city children and grandchildren -- the -- busted for twenty years because for twenty years duty is fifty years nobody wanted to -- some beans some.

My guys -- say hey you know this has been my cry almost every time I called the show. And Tom you're always come up with some of certain somebody average actually -- out you know. At least not until I swear -- was paying the bills well one could see up all the -- and sound like Malden but the mayor just it would it is. His body in it in his -- lob pot now who we gave it up put on the library can be -- get it. Pop up his attention that's just the tip video expert when you look at when you're saying you know the this is struggling. With budgets they can't beat you know kit being pulled because of you -- CO. Teachers' pensions police pensions by your actions these people get 80% of their pay so -- when you come up what are -- 3000 dollar figure. I don't believe it because. We don't look at we know he's going to get just don't -- I 80% of what they make the last three years or five years of service and most these teachers throughout the Nielsen six exceed 80000 dollar a year. Salary accounts that when you look at the administrative as administrator Jamaican you know well.

Now they make and yet it did make six figure around the women.

I mean we don't want school -- all in all we have to assistant pretzels each make over a 170000. Earlier in the same school so why don't we need would try to decide that it -- I think what apology saying nearest you I don't begrudge anyone know that we're excited that gets a pension about where the private sector you know one company. He's 80%. Salary and yeah I'll benefit search and rescue life -- one and -- the people that go to work at least a fighter schoolteachers. But you know when you get to elect officials I don't think she'd be covered by this same system.

Wait wait. A little elected official they call themselves public servants that's what I actually do I want to serve. I don't want them to go their further rewards we obviously have a system -- where people go there because it's the best lifestyle they have with the ability to acquire I was.

I wish -- stayed on because he made a number of good points and I'll appoint now you -- say in a quiet. In a quiet constructive way all I'd point out is exactly what he said jay Kaufman was speaking to maybe not as theatrically as Michael would -- what Todd would like. But very quietly professionally she we see need to do cost averaging we need to do we need to we see need to spread it out -- anti Korea not just the last three -- people can and have. Game the system but the 23000. Dollar figure. Is factual.

And so -- always find out I don't see that as being relevant I don't know anyone who rose 23 -- from Social Security he was comparing this to Social Security. If it's gotta be Social Security if it's supposed to be an equivalent to Social Security why do we have a redundant system. This other we have our special laws for people -- why don't we just put everybody in the Social Security system leave well enough alone and not have fifty billion dollars or whatever it is an unfunded debt. That we go to these pension.

So you'd actually have to go back and see the history of the development of Social Security in the history the development what do you say in about fifteen or twenty other states have the type the system we have that doesn't make it perfect I'm not an apologist for the system of.

Court a good let's just get rid of it no. Eliminate it will mate Dick do you -- did you eulogy proper institute has tried Lionel we did not way to not get people into the system you acknowledged that as bold and radical he said look. That is absolutely a possibility that is something we could do that is something we are looking at. -- considerate. What else you boarding buses that are considered every hole so every proposal to come up with this -- just blog -- adopt when that somebody Robin SEC gets shot. That's what should happen see the guy coming out of the banquet the money issues should be -- at these guys are coming out of the state house with the money let's go to Anthony in East Boston hate EM pretty good morning.

Good morning gentlemen how are you doing great thanks I would be inclined to talk to. And if it gets explained that this is -- rational basis for this. For taught position is simply best. Notions of -- which generally entail ideas of sacrifice. When people pocketbooks certainly in the public sector. Far XP we -- aren't that well there's these chosen -- life in the public selected because the have decided to take some -- sacrifice. And the question is when we look at these -- intentions look at I expected here's the public psyched myself and -- now being public and private sector. There is a significant measurable advantage of being in the public sector in terms of want to point the situation.

Meaning why -- you have morrow reliability of your employment.

Should not only reliability to more opportunities. Are more opportunities for the exits that the closing. Subsidizing. -- culture cost president.

28000. Dollars -- Now I want to -- by a tech council that is product does not that there's not a penny of public money. I got paid. Almost five times more than I was making in the public. He and I've probably worked. 13 is not may -- one half the size somewhere between a third and a half ago.

I had more time I had more -- time -- my family outside -- why is it in comparison because many anyway enormous sound advice in my law office and times of what I could have done and you can trade do you traded in that sacrifice you made over 26 years of building connections and knowledge young and you went and you sold it into the private sector right. I have no knowledge as you might have as an engineer or doctor or lawyer. And you bring that knowledge to the private sector the private sector said we'll pay you acts mr. for exactly I had been dated July 15 of -- and you they don't want hard work from him. They don't want how to work now and they just -- we grew their membership that 40%. Them listening to you that while you're goofing off Digisette. Because I'm pretty iPod is similar work right know how to do -- because you're so I don't have any doubt about yeah so they were paying for your they don't want hard work from here they just one of the results and the natural are wonder that comes from having to come in and around. --

You know I I totally agree with parliament because -- just the money and the fact there were totally broke it. It's what is a drop okay.

They have had a second to clarify one thing you grew Tom Finneran and start. Looking -- God's love and it's also. Is rather good good good but that's okay. -- than fifty bucks for Obama and that.

Look at that look at it this way is right. You should get up and go go to work every day because you like a job where you could -- great and and most people emote but don't even get to do that we always look for that okay. So that's number one. You shouldn't go up to get up every day go to good job looking toward the retirement if that's.

I believe I did I read. Your mailing it and all the -- I agree it's worse than that the people who work with you and depend on you're going to be they're going to be hurt I agree with with a two point Greg has made -- got no problem with what he said.

Because it's the answer is simple but when you make it simple some people don't. -- that special benefit than others.

Wait -- government tell the truth. People who have power -- our -- didn't.

All they have to do. It's just go to what all one K if you've got more than ten years -- and find the state should take care about it they got less than ten years and at this.

Boy shoot and -- the little 1 K wide we're going to happen.

Take an average of the fortune 500 what ever the fortune 500 averages. -- 1 -- That's the match they should do and and it.

good idea Greg 6172666868. It's Tom and taught at 680 WRKO.

Memory for up to -- compliment each other's soul well and that's been married here in the great state of passengers and -- spreader and I'm fine birds appear on Boston's talks vision away and -- W -- field. --

I don't worry about what about Olympics in the -- Really directs welcome back Tom parenting thing I've been why they're so that it's broken that's -- it doesn't work I've already fixed you know -- well no I don't want.

This argument that nothing can be changed because of all things that are in place that make it the way it is and that's get rid of things that are place that make of the way -- police escort you to change things which it has an argument you always hear from a bones very difficult we can't to it becomes as you've got this group over their in this system over there on -- it would be enormously difficult that's why this moment Todd is so special this. Price -- moment.

Nationally as well as state budget challenges budget pressures this is the type of moment you wait for if -- legitimate reform. If you really now this guy is totally bore alignment. That's why Rahm Emanuel about his goals are different. I'm Barack's goals are different but they -- brown a mineral recognizes. Crisis creates opportunity because the pressure is so -- to change the status quote that's the moment when Iran -- I'm excited by six -- seven Tucson.

Excited by the opportunity unfortunately it -- that it must collect the fifty Italian restaurant I think the situation worse rather than -- I don't this 61726660. -- what do you -- we grab a call from Mike in some of it is you have to be Mike yeah let's go to my case I welcome you -- next on veterans -- taught Tom. --

I'm unhappy that they that you're coming up for increases in taxes.

Increases in taxes. -- a router table hit the go ahead in the liberty pensions and hopefully. Those employees who are now funding their own pensions. Would be read or not they're not the greatest 7% Social Security -- whether it is. And the stake which is paying nothing right now match would have to pay seven point 2% of a ten billion dollar annual.

A -- what is federal what is and that we all for unfunded pensions. But what what could that -- Oprah and under Social Security. All that's a federal obligation you got a good point -- it's a federal obligation but on the state level or do what -- is just doing his high risk additional caucus is a great.

Called bike I gotta say this is a great hall because -- imagine never like set. When a fat Indian convenience factor is introduce my lover who lives theories are great for this is a great -- what that's a softball fact -- anybody -- And pay more money that's like I'm Manny on his way on -- when he -- swing and a miss it -- Annan of the heart good doesn't it but.

in this case employees. Are now paying in most cases nine and 11%. Of their wages in in heir to the pensions system. If it most employees are not police -- fire they kept a group one pension and there -- the equivalent.

They're coming close to finally hear mention 100% at any parasite -- I don't like that shark that was that was a -- early on that people like NBA com lifetime -- because we -- billions of dollars for this wonderful the pension system that we have in the Arabian billionaires and feel like motel and the reason you -- billions and billions is because of people in rappers who might have -- UER reproach and say look. This bill is twenty years down the road I don't have to stand up and pay for this act to help us then why they mask I I don't camouflaged I don't have -- I don't have the numbers in front of me about -- I would I would bet any amount of money. That we save a fortune the by paying them giving out Social Security you think so because of the path that goes on the assistant that it had great support you what is is that good or find out there's a story candidate on the Drudge report in a chest. I was actually they -- it it just provides a little insight into. When people bothered to dig a little bit into what the government does you see how they how would excitedly they squander our resources. Two what -- are coming up okay I I'll take with the story is that my -- state of Washington. Wanted to qualify for some federal funds -- so they sent out. -- check for one dollar. To 250000. Dollar into 250000. Recipient is a benefits in the NY show. How much things cost a cent on its axis summit Democrats here what 44 cents for the Aaron and then another front another bock prince and an envelope -- administrative assistant dollars -- but I spent a quarter million dollars in order to spend a quarter million dollars to qualify. These people for the forthcoming bailout money. This is the kind of thing that happens constantly. In government so you know I'm not fazed at the that -- we would have to pick up ocostas. Give us your Social Security if we aren't pension system -- would save. Probably millions and millions of dollars by dilemma over what period of time over any period of time you want to.

Morning mr. Federer not mr. Feinberg I have to say I agree to a mr. Feinberg in the sense that I believe a lot of politicians become Korea politicians. They go when -- become politicians. The benefit themselves defeat from the public trough. A one out but the federal question juice let's say that there is a fictitious politician in the town and the paving a road through this town and the project as well. Ten million dollar project to -- I believe there's a lot of politicians like the traditional politician the wholesale give you the job what you gonna have to pay the underground under the table pay a lot. Pick up the job done. I believe that's a classic example of corruption the polls on. In Massachusetts politics and I'm just disgusted by it and I'm so disillusioned I don't even vote for -- local local people on the --

When you shouldn't be so disillusioned because why you should be more disallowed because few if -- people would do that don't call anyone on your looks and those who do what we're already going to have nobody serve the other we're -- have no ability to -- know -- this -- oh okay that's right -- to let everything -- that's an approach we need a total -- what what Scott hypothetical -- give us about the hypothetical politician they go to jail they go to jail -- taught -- right Ian Scott starts off the -- If the other contract who's going to get that ten million dollar hypothetical. And Scott the hypothetical local politician comes and tries to put the shakedown on -- he's going to pay him a 100000 under the table you gonna call the -- I just the other federal way to answer the call the fellow I know the -- why I kinda -- could put the -- Scott in jail where he belongs that's what you don't know the answer okay what is. I don't answer hypotheticals.

A.

from the truth tell I'm -- relative real policy 61726660. The way we're talking about our health care yesterday earlier net and you are making the point about how we have the best health care in the world I agree in Saudi Arabia so the prince's control most of the resources in country. And they bring American doctors over there to teach everybody train their possible that they've greatness and of story today Saudi prince crown prince sultan bin Abdul Aziz has undergone a successful operation in. Saudi -- New York, New York you know comes over here you know there was a royal family from the Middle East and actually had a flaw I'm not kidding a flaw. At Brigham and women's. -- that they probably keep -- them permanently -- just -- members of the royal family until and in the wealthiest -- people on the world -- they have serious health -- problems to in New York Boston -- New York -- we have -- backyard in abundance if they -- a -- in the Obama plan for -- you know I suspect to the the -- societies would be shorting out -- let's go to Mary college from camp that hey Mary good morning.

Good mining settlement. I haven't heard it mentioned that none of these politicians hate into the pension fund is this.

It's not -- you should not close to. -- that the 9% does on the first 80000 and then it becomes 2% for that peace over. Over 30000 -- are you okay 100% of the cost. Although all the twenty -- thirty years and nine plus two funding source. Pays just about the entire eighty of the benefit -- out just about just about. I thought it was a 100% -- it -- rural people say ninety so this -- and five of these are my own daughters and these are hypothetical all the hypothetical depends upon the return that you get on that also could be it's only 50% of what -- know it's now -- would never be that long long -- we're about to go bankrupt as a nation we have -- the -- go blue its its its possible but over a long term the stock market tends to perform that's how all -- that's how the private sector is funded. It's remarkable pension system that you use as -- so. -- could be on the -- for what -- a 100% -- I don't know we have here this -- from an -- lot of money now that while while her information more accurate than what you -- Edmonton -- that's not true you told us it was under present first -- Microsoft Novell and Microsoft though it's hypothetically 100% fund. Well it certainly north of ninety. We hope it's north of -- to -- this Murdoch is our have to change our concept of elections do you like the situation to you like the the drama that you watched unfold locally with a Polaroid. -- you know you matter worked a Polaroid for fear he is an honorable innovative creative guy. And and neither screwed and attention because the company that was her to supply the funds terrible invest whatever it was that good is that a good outcome now is that the private sector that we should America. Well you're honest and -- is -- about that was bad regulation by the perhaps regulation. -- He had your -- clinically insane right now our guys they're shouldn't pension should not be free you know money you're free to do whatever you want -- Of extra money should be a lock box guys are right do you like a lot of talk to elect a large parts that Washington has facade of security keep recommending they -- yesterday alike that system -- that's a disaster okay Jamaican my point when we have a system that's not a disaster. That in now -- at nine plus two probably going to change I would suspect that the legislature look at and say new employees are gonna pay. Ten plus 310 plus 411 plus two I don't know what they'll do you need to have more skin in the game that's what I think my skin and again be ago but I also like not having it redundant system in the state of Massachusetts is costing us. Billions of the dollars let's go to -- scholar from Cape -- always a beautiful pot about lovely state -- called.

Good morning or yeah. All the world problem. We do it every -- I was here alone like it's -- block where can we do it's one ha ha ha I don't question question on on how air we'd be better off. Letting hospitals. Sell insurance programs. It cat. At Sierra health system and a lifeboat. I think it's. Rudy shirt companies overboard.

While I like the insurance companies keep in the hospitals honest because of you have the hospitals. In the game. Who then calls them to win the room judge goes from 600 bucks a night. You know 3000 a night right now the people of blue cross blue shield -- somebody's they hey wait a minute Todd missed a hospital administrator when I paid three grand I assure you I think we'll send our insurance to the hospital across the street previously got a little competition.

Bad idea but the underpinnings are are good idea and that is half the market be involved. And I think the reason we're in a situation or health care so screwed up we have all these unanswered questions. That we just have to fund that were matter repercussions of is because we don't let the market be involved in this has too much regulation the idea that you can't have. Or that's been so difficult to do things like open up clinics in the CBS's and young Walgreens. That is is demonstrative. Of how -- response is resist regularly are always resistant.

Change no question about it but you know you you make -- this -- Sacramento night at those CVS clinic slightly better all you have to do is still being fought by the -- and I are on the same page by the way I like the idea of the marketplace there are some people I don't follow through this category of some people say wait a minute it's it's not a real market because healthcare is the ultimate. The ultimate imperative. And people become irrational. About it it's not so it's not a -- parents not food it's not a rap go to our buy food we -- outline with the stroke but you have you have you have -- physicians have a million different providers.

It is examine -- six like we do 6860. Were being harassed by by producers who will continue on 680 WNBA all but dot you've -- Those commercials. And -- only program -- parents to. Tell amber on.