Quote:
Originally Posted by Locke
Okay, but you specifically stated 'private-sector debt levels' were the biggest problem facing our society today, that term means companies and businesses.
If you're talking about people, individuals, then there is no differentiating between public and private.
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You're right, I misspoke, I meant household debt and not private sector debt. Debt held by private citizens.
Public sector employees are in a resoundingly better financial position than those in the private sector, largely by virtue of their pensions. 50% of private sector employees are receiving Guaranteed Income Supplement benefits compared to just 15% of public sector employees. This ratio is only going to get worse as more boomers realize they haven't properly saved for retirement.