And unending cycle. 100%The pensions were rooted in a time when the salaries were lower than private industry. Then unions came in and the salaries went up and so did the tensions. But the politicians were owned by the unions who raised dues when salaries one tup and bribed more politicians. And unending cycle.
It’s gonna be awesome! Kevin Williams
It will end, and abruptly. These schemes lasted as long as cities continued to grow, supported by a growing tax base. But like Detroit, LA, Chicago and other cities will find out that their citizens will only take so much until they vote with their feet. The tax base evaporates, and then then bills can't get paid.
And unending cycle. 100%