Best Govt. Pension Ever

John Seiler:

California government workers’ pensions are pretty lavish. Consider this one from San Fran:

New city records show that former Police Chief Heather Fong – who retired in 2009 – received a grand total of $528,595 in her final year….

Now that she’s gone, she’s pulling down an annual pension of $229,500 for life.

Pretty sweet. But consider this pension for a government worker, one that would make even Fong envious:

Egyptian President Hosni Mubarak is likely the world’s richest man, with an estimated fortune of  $70 billion dollars.

Media reported Monday that Mubarak’s family fortune could be as high as $70 billion, much of it in Swiss banks or tied up in real estate in New York, Los Angeles and London.

The $70 billion dollars would put the 82-year-old comfortably ahead of Mexican business magnate Carlos Slim Helu, worth about $53.5 billion dollars, and Microsoft founder Bill Gates, the richest American with $53 billion.

Mubarak also has been a government employee funded by U.S. taxpayers. Since 1979, Egypt has been given $2 billion a year in subsidies, or about $64 billion. Thus, almost all of the money given to that country has gone into Mubarak’s retirement account.

While California’s government-worker unions are negotiating about their pensions as the state’s budget deficit worsens, I suggest that talk to old Hosni about how he managed such a great pension for himself. He needs work, so hire him as a consultant.

Of course, in the meantime, they may have to deal with Egyptian-style protests in front of the state capitol objecting to the government-worker ripoffs.

Feb. 14, 2011

No comments

Write a comment
  1. Bob
    Bob 14 February, 2011, 13:01

    Our feral government is beyond broke (tens of trillions in debt when counting unfunded liabilities) yet every year they take money away from hard working Americans and give it to corrupt foreign governments!

    That alone ought to ignite a revolution in this country!

    Yet Rand Paul is treated like a pariah for stating that all foreign “aid” ought to be eliminated.

    This country is a nation of sheep ruled by criminals and there is no hope at all.

    Reply this comment
  2. David from Oceanside
    David from Oceanside 16 February, 2011, 20:53

    Nice try John, but your use of Mubarak in a public employee pension story is a six to your Mao analogy of a few weeks ago.

    Reply this comment

Write a Comment

Leave a Reply

Tags assigned to this article:
budgetEgyptJohn Seilerpensionsprotests

Related Articles

Assembly passes bad Cap and Trade bill

May 29, 2012 Katy Grimes: The Assembly today passed the controversial Cap and Trade bill,  Assembly Bill 1532, by Assembly

Californians turning on unions

People with too much power are setting themselves up for a fall. In democracies, voters sometimes decide things, punishing one

Will Gov. Brown kill self-driving cars as threat to bullet train?

Sept. 13 By Chris Reed Gov. Jerry Brown gave another hallucinatory endorsement to the bullet-train project in a weekend interview