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Loyalton's pension default is a wake up call (California)

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 Cinnamon    28,897

Sick … a punch in the stomach.That’s how public retirees in Loyalton, California, are taking news that their town defaulted on its pension payments, resulting in the possibility of their retirement benefits being cut by as much as 60 percent, the majority of their hard-earned livelihood. 



Sorry, folks, but you can't expect to retire and get 90 percent of what you made when you were working from taxpayers anymore. And you can't expect government to balance any books, so what they hell were they thinking? 

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