The issue of public pension reform is not going away.
Despite weak “reform” attempts in the 2013 Kentucky General Assembly, a remarkable unfunded liability remains. cn|2 Pure Politics recently caught with Sen. Chris McDaniel, R-Taylor Mill, who is advocating for further reform:
McDaniel said there will have to be more political will to talk about the issues still facing the retirement system including non-governmental organizations within the retirement system
Yes. More political will is needed if Kentuckians are going to see the changes needed. Moving the entire public pension system to a defined contribution, 401(k) style plan will be unpopular and will require considerable will to move forward BUT this must happen as the standard of living for all Kentuckians hangs in the balance of a $34 billion unfunded public pension liability.
Taxpayers should be concerned about this loan by the Kentucky Agriculture Finance Corp. not because, as the Lexington Herald-Leader states, “tobacco is subsidizing coal,” but because state government should not be in the business of picking winners and losers in any industry.
Let the market determine — without government loans (especially those to the politically influential) — which ag-related businesses survive, which ones thrive and which ones don’t make it at all.
Bluegrass Institute President Jim Waters will appear live on 91.5 FM WBFI’s morning show hosted by Bro. Ron Miller on Wednesday from 8 a.m. to 8:30 a.m. (central).
The interview will be replayed at 10 p.m. (central).
WBFI is a Christian radio station near Leitchfield area that includes news and opinion on state public-policy issues as part of its programming.
Those outside the listening area can tune in for the podcast on www.bethelfmi.org.
In the wake of this week’s appearance of Jim Waters, President of the Bluegrass Institute, on the Mandy Connell show, this morning Bill Bissett appeared on the radio program to discuss Kentucky coal and the Bluegrass Institute’s involvement with the commonwealth’s energy sector.
And although the EPA may be hell-bent on keeping domestic power plants from using coal to provide energy to local citizens, according to Bissett, power plants from other parts of the globe aren’t facing the same kind of adversity: “I get phone calls from people every day asking, ‘How do I get millions of tons of Kentucky coal, right now?’”
And according to Bissett, the people calling aren’t just from China and India – they’re from Germany and other traditionally “greener” countries too.
But as for those in developing nations, Bissett says coal is an invaluable commodity because, “They’re literally trying to jump from the 19th to 21st century in a month.”
As we previously reported, it’s Kentuckians and our natural resources that have, in no small part, allowed developing nations and their people to enjoy a higher standard of life. And if freer markets and smaller governments – core Bluegrass Institute principles – are allowed to prevail, Kentucky’s energy sector can continue to grow human welfare, both home and abroad.
At an event hosted by TACKLE with TAC4, Jim Waters debated Tom FitzGerald on May 21 over the merits of the Intrastate Coal and Use Act, and which entity can most effectively weight the costs and benefits of Kentucky’s energy sector: bureaucrats at the EPA or local citizens most affected.
Check out the full video above!