UNDERNEWS : Some facts about Wisconsin's pensions
Naked Capitalism - According to David Cay Johnson of Tax.com, the average Wisconsin pension is $24,500 a year, which is hardly lavish. But what is stunning is that 15% of the money contributed to the fund each year is going to Wall Street in fees. Thus the blame for any shortfall should go in very large measure to rank incompetence in the state’s dealing with the financial services industry and the impact of the financial crisis on state revenues.
(Emphasis in original.)
On the other hand, let me point out to some of the Leftie bloggers around: if the only way to make sense of Wisconsin is to compare Madison to Cairo, we've already lost.
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