The Governor is correct. The pension system is in crisis. However, his solutions are old, tired and nothing new. All of the proposals have been tried before. And they are NOT working. We need new ideas and innovative thinking to fix the issue; not rehashed failed ideas from the past.
The first rule of business is ‘follow the money’. We need new revenue streams. Every entrepreneur knows you cannot cut your way to profitability, and you must find new markets, products and services to GROW your company.
I support and will work to fix our state pension system through funding from other new sources of tourism attraction. New sources of revenue for Louisville Metro include the following:
- Allowing our race tracks to provide expanded gambling venues (Racino’s)
- Medical marijuana
- Increased hemp production
All of these, and others, should be on the table as new market revenue streams.
Cutting benefits and raising our Police retirement age will not work.
Businesses do not turn down new money-making opportunities when presented if they are a viable business opportunity; and neither should government.
As your representative with an entrepreneurial background and spirit, I will find those new markets and revenue streams without raising retirement ages or cutting pension benefits to fix this problem.