Attorney General Kills Retirement Bonuses

During the last session of the Texas legislature, the legislators set aside $155 million to give retired teachers and state employees a one-time $500 bonus. The bonus would have come this month to members of the Employees Retirement System and the Teacher Retirement System.

For those who don't know, teachers and state employees in Texas work very hard for less pay than their counterparts in most other states get. And the money they get after retiring is even less. A payment of $500 may not seem like much to many people, but to most Texas retirees it was a much-appreciated gift -- especially right before the holidays.

But that money won't be distributed to Texas retirees now. That's because, according to the boneheaded Attorney General of Texas (Greg Abbott), it would somehow be illegal to pay the one-time bonuses. Once again, Texas Republicans show they don't care about the elderly -- even those who have dedicated their lives to serving the state of Texas and its children.

Now some may think that the AG (pictured) has saved the state from spending this $155 million, but that is not true. Instead of going to the retirees, the money will be paid into the trust funds of the two retirement systems. Instead of the retirees benefitting, now some banks and financial analysts will benefit instead. True to form, our Republican leadership has acted to benefit corporate and financial interests over the interests of ordinary Texans.

Even worse, this $155 million that will now sit in a bank or be invested in some corporate stock, could have been circulating in the Texas economy to the benefit of all Texans. The retirees, who I remind you are paid very little, would have spent this money on rent, car payments and expenses, food, gifts for relatives and many other things.

It would have been a boost for the Texas economy, which is feeling the recession regardless of what our idiot governor and other state Republican leaders think. Now it will only benefit a few of the rich and powerful.

I hope the retirees and the citizens of Texas remember this in the 2010 elections. The Republicans have failed in their state leadership and its time for them to go.