$5 Trillion Price Tag for Public Pensions~ When is enough enough?

[HappySqurriel]

darkknightkryta said:

HappySqurriel said:

 

GM's labour costs work out to $70/hour per employee, a large chunk of that is the pension and medical care for retired workers.

So you're saying that even though they pay $30 per employee is really like them paying $70 dollar per employee because of retirement packages?

There is more than just pensions, but essentially that is correct ...

So, with the excessive amount of dependency in our economy, for GM to pay their employees enough that they take home $10 to $20 per hour it costs them $70 per hour. If you start having people retire younger (as you suggested) it would push the cost of an employee to $100 to $200 per hour even if the employee only takes home $10 to $20 per hour.