Recession and Deficit:-2

And the private sector people long time ago lost their pension plans or it were converted into private savings plans which are not guaranteed as they are subject to the vagaries of stock market and other things. All I am saying is that even with all the cuts and reduction in expenditure, if the deficit of the public service companies don’t come down then we will have to reduce other benefits and reduce salaries since we can’t keep on increasing fares and cutting services to a point where there is no use of these services. Times are hard and we will have to make sure that these essential services are to the benefit of the common people and not make a burden on them lest a vicious cycle starts which can be people will start car pool and find other means of transportation and in turn the rider ship on these transit services will plummet and then they will have to cut more services and raise more fares in order to provide the minimal essential services. Then the people who are using these services will have to pay much more making them think about alternatives and then the whole cycle starts again.