It is no secret that Minnesota, where Democrats disguise themselves as “Farmer-Labo,” has been slipping toward the political center. From my vantage point, the numbs suggest that only vote fraud has kept the Land of 10,000 lakes” reliably Progressive, as elections whose results should be known the morning following election day have counts that last a week or more.
Bloomberg’s Business News reports the Minnesota State Pension system has taen a huge hit, due to the “creative accounting” so common in jurisdictions subject to Democratic misrule. Essentially, the Minnesota public pension system was the 30th worst funded public pension system, but is now the 7th worst funded.
Briefly quoting the Bloomberg report linked above:
The jump caused the finances of Minnesota’s pensions to erode more than any other state’s last year as accounting standards seek to prevent governments from using overly optimistic assumptions to minimize what they owe public employees decades from now. Because of changes in actuarial math, Minnesota in 2016 reported having just 53 percent of what it needed to cover promised benefits, down from 80 percent a year earlier, transforming it from one of the best funded state systems to the seventh worst, according to data compiled by Bloomberg.
The pension deficit is estimated at $6,000 for each Minnesotan, whether man, woman, or child. State pensioners comprise a powerful lobby, the more so since many pensioners “knw where the bodies are buried” of official misdeeds past and present. You can bet the pensioners will get all or almost all of their pensions – and that taxpayers will pay for it.
Whether a one child family looking at another $18,000 out of their paychecks will be enough to send the pols who always seem to have better uses for tax money that paying into pension funds, what goes around comes around. And American gun owners, particularly Minnesota’s gun owners, can breate a sigh of relief.