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Forward Democrats! Union Sets Record for Biggest City Bankruptcy

frans2 Wrote: Jun 28, 2012 3:41 PM
Municipalities aren't going broke because the unions negotiated good retirement deals, they are going broke because of poor financial and fiscal management. Had they realistically valued the returns on retirement fund investments they would have made adequate provision for it and, most probably, would have resisted generous benefits. Instead they pretended they would get returns of ten or twelve or fifteen percent per annum on their investments which was a fantasy. Now both the municipal employees and the municipalities are paying the penalty for spending too much time in financial fantasyland.
shawn209 Wrote: Jun 28, 2012 4:10 PM
Its more than that--unions are constituents and can make life miserable for a candidate. The fundamental problem with public unions is that the taxpayer is never at the negotiating table and the management is dependent upon the union for votes.
Tax payer looses.
frans2 Wrote: Jun 28, 2012 4:15 PM
Unions aren't constituents - their members are. They have votes just as everyone in the municipality does. They are heavily outvoted by the rest of the citizenry. Weak managers make strong unions.
Torr Wrote: Jun 28, 2012 6:33 PM
Aaah, but shawn's point about the taxpayer not haveing a seat at the negotiating table is absolutely valid.

Public sector unions are analogous to hiring two guys to mow my lawn, then letting them argue with each other to determine what i have to pay them for the work. Public sector unions should be illegal for obvious reasons.

Forward! Stockton, California; move on forward, right to bankruptcy.

Can you take the Democrats with you? Oh, that's right: They are already there.   

Stockton, California will seek bankruptcy protection after negotiations with unions over benefits and workers' pay failed to avert insolvency by the city. But because of laws passed by California liberals aimed at entitling government union workers to inflated pay and benefits under most circumstances, look for more cities in California to seek the same remedy.

If you weren’t horrified by the case made in Madison, Wisconsin over union wages and benefits causing massive state and local budget...

Related Tags: Bankruptcy