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This is What Happens

post #1 of 5
6/19/10 at 6:49pm
Thread Starter 
http://www.nytimes.com/2010/06/20/bu...20pension.html

Quote:
In Budget Crisis, States Take Aim at Pension Costs

By MARY WILLIAMS WALSH
Published: June 19, 2010
Many states are acknowledging this year that they have promised pensions they cannot afford and are cutting once-sacrosanct benefits, to appease taxpayers and attack budget deficits.

Illinois raised its retirement age to 67, the highest of any state, and capped public pensions at $106,800 a year. Arizona, New York, Missouri and Mississippi will make people work more years to earn pensions. Virginia is requiring employees to pay into the state pension fund for the first time. New Jersey will not give anyone pension credit unless they work at least 32 hours a week.
..........When the blood sucking Unions are allowed to bankrupt States.
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post #2 of 5
6/20/10 at 10:07am
How are unions causing this?

Many corporations have been cutting pension benefits for years, so how is this any different? I would have expected you to be happy that government would be taking actions to balance their budgets.
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post #3 of 5
6/20/10 at 11:23am
Thread Starter 
You misunderstand, I AM very happy the States are coming to their senses and balancing their budgets.

I don't really have to explain the Union's culpability in this do I?

New Jersey is a prime example.
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post #4 of 5
6/21/10 at 9:04am
The states are taking actions, or trying to, but are being blocked by the unions. NJ is a good example of an overtaxed state along with CT and VT. VT government employess just took a 3 % pay cut. Somehow I'm not feeling a whole lot of sympathy. If they are state troopers then bless them, they should not get cut, but there is so much bloat in VT government that they really should just do away with entire agencies. The Governor wanted a 7 % cut but the union blocked it and they only got a 3 % cut. This is outrageous IMO. We have so many people who have lost their jobs, are struggling to keep businesses open, revenues are down, so that means that VT will have no choice but to keep up its 'eat the seed corn' policy of taxing where there is little money to be found.
Yes I put some of the blame on the unions. Those people should share in the bad times but they are sitting pretty and won't give up anywhere near what they should.
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post #5 of 5
6/21/10 at 10:22am
Thread Starter 
Our Mayor tried hard to negotiate with the Union for an 8% pay decrease but the Union just wouldn't give.

The Union put it to a vote and Union members voted it down.

So people started losing their jobs. LOTS of people started losing their job. I guess Union members would rather take their chances that they wouldn't be the one that lost their job rather than take an 8% pay cut. Sad
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