Want to know why government costs so much?

Well, start with the employees.   New York State for example has about 274,000 of them, and that doesn't include local cities, towns, counties or school districts or even New York City.

Paying federal employees costs a lot –more than $13 billion in 2009.

OK, maybe that's worth it for the services you get, but don't forget-many of those employees will ultimately work long enough to retire with a state pension, which means you continue to pay them long after they've left the job. 

Again, in New York state there are 340,000 people in the state employees retirement system, that  doesn't include many police or firefighter retirees or again New York City employees. 

That number does however include many local and county employees and retired teachers whose pensions are part of that system.  Those retirees cost about $7 billion a year.

So it's good to remember if you live in Yonkers for example, you are paying for the retirements of 63 members of the Yonker’s Housing Authority.

Also keep in mind there are more than a thousand retirees from the New York State workers compensation board and more than 200 retirees from the Western Regional Off-Track Betting.

The list keeps going! There's the 455 retirees from the Division of Military Affairs and don’t forget the 654 from the Brooklyn Public Library, the more than 1,200 people from the Buffalo Public schools, 114 from the New York State Bill Drafting Commission, and ironically, 65 retirees from the Office of Aging.

Now, giving credit where it's due - New York is one of the very few states where the pension fund is fully funded.  Despite this, the state historically has a tough time balancing it's budget.

I'm not saying that any of those 340,000 retirees didn't deserve their pensions, but when you think about the cost of your government you have to consider all the cost, and you have to remember where that money comes from.... us!

 

Be sure to catch the Willis Report on the FOX Business Network every weekday from 5-6pm ET.