Outrageous public-employee pension obligations
Want to know the single biggest reason why New York City is thinking about laying off thousands of teachers, jacking up parking meter fees and scaling back fire protection?
The answer boils down to one word: pensions.
(Excerpt)
http://www.nydailynews.com/opinions/2010/12/12/2010-12-12_its_the_pensions_stupid.html
“No municipality will sustain more damage than New York City, which next year faces a mind-boggling pension tab of $8.35 billion - a 19% increase in one year “
California has the 8th largest economy in the world, and yet 80% of every dime they spend is on salaries, benefits, and pensions.
These public employee unions will eventually bring all of the States down.
“How public-sector unions broke California”
http://www.city-journal.org/2010/20_2_california-unions.html
California has more people in prison than any COUNTRY in the world...