and alfred arnold joins us now along with steve, who studies governments and their budgets. job as a security guard. >> oh, yes. >> you thought you were going to get your pension for working for years for the city and it wasn't there. >> it wasn't there. i have to go to work. 40 hours a week. like starting all over again. >> i know another person, ginn williams, 77 years old felt lucky to get a job at a school teacher. >> yes. now, it's not like the town has no money. they are paying the mayor almost $100,000. >> exactly. >> john: they have a housing authority with 40 government workers. they knew this was going to happen. had you known this was going to happen, you would have saved money. you would have been prepared for this? made your own plans? >> left the city. >> john: steve, you study cities. this is going to happen to more places. >> happened to a few places and a lot of places are approaching this. whether they get bailed out by their states or not is an open question. but you have a vallejo california filing for bankruptcy. central falls rhode island pension proble

. >> alfred arnold retired after working 35 years for the city. he hoped to relax and travel. when the pension checks stopped coming he had to get another job. now, at age 66 he is a security guard at the local mall. and alfred arnold joins us along with steve malenga who studies governments and their budgets. had to get a job as a security guard. >> oh, yes. >> thought you were going to get your pension and it wasn't there. >> not there. have to go to work 40 hours a week. just starting all over again, you know. >> i know another person, glen williams, 77 years old. was lucky to get a job as a school teach. >>> yes. >> it is not like the town has no money. they are paying the mayor almost $100,000. >> exactly. >> they have a housing authority with 40 government workers. they knew this was going to happen. had you novembe known this waso happen you would have saved money and been prepared for this and made your own plans? >> i would have left the city long ago. >> you study cities. is going to happen more places? >> happened to a few places and a lot of places are approaching

. >> alfred arnold retired after working 35 years for the city. he hoped to relax and travel.n the pension checks stopped coming he had to get another job. now, at age 66 he is a security guard at the local mall. and alfred arnold joins us along with steve malenga who studies governments and their budgets. had to get a job as a security guard. >> oh, yes. >> thought you were going to get your pension and it wasn't there. >> not there. have to go to work 40 hours a week. just starting all over again, you know. >> i know another person, glen williams, 77 years old. was lucky to get a job as a school teach. >>> yes. >> it is not like the town has no money. they are paying the mayor almost $100,000. >> exactly. >> they have a housing authority with 40 government workers. they knew this was going to happen. had you novembe known this waso happen you would have saved money and been prepared for this and made your own plans? >> i would have left the city long ago. >> you study cities. is going to happen more places? >> happened to a few places and a lot of places are approaching this

. >> alfred arnold retired after working 35 years for the city. he hoped to relax and travel.hen the pension checks stopped coming he had to get another job. now, at age 66 he is a security guard at the local mall. and alfred arnold joins us along with steve malenga who studies governments and their budgets. had to get a job as a security guard. >> oh, yes. >> thought you were going to get your pension and it wasn't there. >> not there. have to go to work 40 hours a week. just starting all over again, you know. >> i know another person, glen williams, 77 years old. was lucky to get a job as a school teach. >>> yes. >> it is not like the town has no money. they are paying the mayor almost $100,000. >> exactly. >> they have a housing authority with 40 government workers. they knew this was going to happen. had you novembe known this waso happen you would have saved money and been prepared for this and made your own plans? >> i would have left the city long ago. >> you study cities. is going to happen more places? >> happened to a few places and a lot of places are approaching th

. >> alfred arnold retired from the fire department after working 35 years for the city.e had hoped to relax and travel. so when the pension checks stopped coming he had to get another job. now at age 66 he is a security guard at the local mall. his wife was a city employee, too. >> she was a police sergeant. got two more checks. we put our money in every pay day like you are supposed to and they were supposed to pay us but they did not. >> john: some retirees have died while waiting for a check like this woman this that lived in this house. >> she is no money and there was nobody to see her and care for her. >> he worked for the library for 32 years. now at age 77 she had to start a new career as a school teacher. >> the city knew that this was going to happen and they could have done something about it. >> something like cutting back on frivolous spending, but instead the politicians gave their website a makeover and the mayor of the town.... >> $96,000 a year, why can't he pay us? >> and the city has.... >> all i need is one and they got two lawyers. >> the golf course

. >> alfred arnold retired from the fire department after working 35 years for the city. he had hoped to relax and travel. so when the pension checks stopped coming he had to get another job. now at age 66 he is a security guard at the local mall. his wife was a city employee, too. >> she was a police sergeant. got two more checks. we put our money in every pay day like you are supposed to and they were supposed to pay us but they did not. >> john: some retirees have died while waiting for a check like this woman this that lived in this house. >> she is no money and there was nobody to see her and care for her. >> he worked for the library for 32 years. now at age 77 she had to start a new career as a school teacher. >> the city knew that this was going to happen and they could have done something about it. >> something like cutting back on frivolous spending, but instead the politicians gave their website a makeover and the mayor of the town.... >> $96,000 a year, why can't he pay us? >> and the city has.... >> all i need is one and they got two lawyers. >> the golf cour

. >> alfred arnold joins us and steve malanga. you had to get a job as a security guard? >> oh, yeah. >> you thought you were going to get a pension from the city and it wasn't there? >> not there. i have to go to work, 40 hours a week, it's like starting all over again. >> john: another person, williams, 77 years old was lucky to get a job as a school teacher? >> yes. >> john: it's not like the town has no money. they are mayor $100,000. they have a housing authority with 40 government workers. they knew this was going to happen. f had knew this was going to happen, you would have prepared for this? >> the city won. >>> steve malanga, this is going to happen to more places? >> a lot of places are approaching this. whether they get bailed out by the states is an open question. but you have vallejo, california central falls rhode island. and cuts for retirees. so we are seeing this, absolutely. >> john: and cities and states unlike the federal government can't print money. >> that is for sure. >> john: in a way it's a goodies palestinian but it's people like you that suffe