Friday, February 11, 2011

Coming Soon: Obamacare on Steroids, for Your Money (to cure you of envy)

Are you concerned about the growing government debt crisis? Are you outraged by some of the pensions that government employees are getting? Well, forget the facts of the situation, economist Teresa Ghilarducci has a couch in her office and has determined you suffer from government "pension envy".

I kid you not.

Ghilarducci, an economics professor at The New School, in New York City, writes in a blog post titled, Pension Envy: Bashing Public Employees:
Envy is a celebrity (sic?) deadly sin, many philosophers think it's the worst. Joseph Epstein writes in Envy, "Envy clouds thought, clobbers generosity, precludes any hope of serenity, and ends in shriveling the heart."

Jealous is intensely felt, you are jealous of what someone has. Envy is cold and sneaky, you are envious for who someone is, not just for what they have. Jealousy about the pensions of government workers spurs you to fight for your own pensions. Envy would spur you to spitefully lobby to cut their pensions. A dose of jealousy helps you; envy hurts all.

The envy machine is cranked up.

Illinois State Senator Chris Lauzen says government benefits are unsustainable and unfair to taxpayers who earn less than civil servants. "People will become angrier and angrier when they learn the difference between their pay and benefits and what we give to public employees." Public sector workers are attacked for their generous pensions.
Got that? Your concern has nothing to do with  pensions that threaten to bankrupt state and local governments around the country. This has nothing to do with the fact that you are coerced into a system via taxation to support programs that you have no use for. This is, according to Ghilarducci, your envy showing!
Her solution to your envy: Give taxpayers the same pensions as government employees:
Public employees have a couple of choices: Accept pressures for cutbacks in their medical and pensions or help taxpayers get better pensions and medical beenfits. So now is the time for a little jealousy, a lot of solidarity, around the deamdn (sic) for everyone to have safe and secure pension income. Envy is destructive.

How does she advise this be done, since government pensions are on the verge of bankruptcy? Well she wants to tax your pay and force the money into a government agency where the funds will then be palced with approved investments (naturally, through "approved" financial advisors).

Translation: For your own good, she wants to tax your pay, so that "approved" advisor Goldman Sachs invests it in U.S. government bonds, which, of course, won't protect you against inflation, and which will result in even more inflation as the Fed prints money to pay you out.

Ghilarducci calls this the "Plan for Mandatory Universal Pension System". Think of it as Obamacare on steroids for your money, with Goldman Sachs as the doctor operating on your wallet.


  1. Her home page is as scary as her writing.

  2. Its clear that just about anyone can call themselves and economist these days. Regardless, I'll be glad to stop being envious or outraged if I can opt out of paying for these government pensions where I feel the value does not meet my expectations.

    In my firm I pay my employees a premium with the expectation that they will do exceptional work and not let me down in a crunch. To pay the higher wages, I have to demand a higher price from my customers. Some see the value and support my business, others do not and don't buy from me. I just want the same right that my customers have when it comes to government compensation and benefits.

    On the other hand, following the profound logic of this economist, the state could allow me to use force and the threat of violence to make all customers pay whether they want to our not. But then, I would be a government.

  3. This dimwit who can't even write a coherent English sentence wishes to make important economic decisions for hundreds of millions of people?

    Why, yes, this is America 2011.

  4. Isn't she just describing Social Security?

    So, she wants a 2nd SS system? Or is she unaware of the first?

  5. Wow....Another foundation robot... Just commit more of your dollars to uncle Samhain and this time you'll get your pension.

    I can see the new hire tax form now...
    Your retirement is waiting for you - please choose your approved option "Treasury/equity direct Retirement Guaranteed!! LLC" or "Sach Equity/Treasury Direct Guaranteed!!LLC"..

  6. She doesn't mention grabbing your 401k in this one... but she wants to.