"Public-Employee Pensions Face a rollback in California" NPR/Associated Press, 6/9/12.
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| Stop futzing around, what would Tony do? |
For years, companies have been chipping away at workers' pensions. Now, two California cities may help pave the way for governments to follow suit.
Voters in San Diego and San Jose, the nation's eighth- and 10th-largest cities, overwhelmingly approved ballot measures last week to roll back municipal retirement benefits — and not just for future hires but for current employees.
From coast to coast, the pensions of current public employees have long been generally considered untouchable. But now, some politicians are saying those obligations are trumped by the need to provide for the public's health and safety. Read Article.
Note: Jim Alex sent a page of picture choices, all Tony Soprano.
Submitted by Jim Alex
Posted by Kathy Meeh
12 comments:
Tony was and is part of the prablam. Get it?
Are governments here to provide good paying jobs or to serve the people?
Seems like the former is true in Pacifica.
FMV people who work for government should be paid well, and representation by a union is also a good thing. The problem is over 30 years public sector benefits rose too high, while private sector benefits declined. Over 30+ years, spotlighted in this worst recession during most of our lifetimes, the imbalance is glaring.
And when a city pays-out 80%* of it revenue on employee payroll and benefits, that's an unsustainable infrastructure structural problem. * (My recall of Lionel Emde's research).
In most organizations, especially non-profits and government agencies, the percentage of the budgets that are attributable to payroll and benefits is usually around 80%. It's not an issue of sustainability. Would you rather have personnel be a lower percentage and other things like debt service, capital costs (construction, equipment), facilities maintenance, supplies, utilities be a larger percentage? I don't think so. The leanest organizational budgets are almost entirely personnel costs. That means there's almost no overhead or other costs.
Someone said, "The Germans will be working until they are 70 to pay for the Greeks who retire at 50"
I say, My husband and children will have to work until they are 80 to pay for the public employees to retire at 50.
"The leanest organizational budgets are almost entirely personnel costs. That means there's almost no overhead or other costs."
Nonsense. Cities are supposed to deal with infrastructure like streets, sewers, police equipment, fire equipment, parks and playgrounds. When so much of the city budget is going to payroll and benefits, that leaves very little left over for infrastructure development and maintenance.
I can understand why you were too embarrassed to put your name behind your statement.
Anon said "It's not an issue of sustainability. "
Really? I guess we're not on the verge of bankruptcy as are so many other cities due in large part to huge unfunded public pensions?
I guess we taxpayers should just do our part and pay more and stop complaining.
When in Greece....
take out as many student loans you can and then complain when your working class stands up and says, 'No More Taxes' is what greeks do.
Who was it, on this blog, that wants America to be just like Europes Socialism??? Well, California must be their dream come true.
"..wants America to be just like Europes Socialism???" Anonymous 6:02pm.
I think you don't understand the issues you are supporting. In the news today, during this major recession the wealth of the top 10% has increased, the wealth of the bottom 90% (you included) has fallen 40%.
More education is better. Everyone having adequate health care is better. Everyone having an adequate means of survival is better.
If people don't pay their debts, wage attachment remedies exist. Higher education in California is currently too expensive for what used to be middle-class and poor people. Hopefully the Legislature is working on better solutions than driving students into deep, long-term debt.
“Under the agreement currently being advocated by the Obama administration, American corporations would continue to be subject to domestic laws and regulations on the environment, banking and other issues. But foreign corporations operating within the U.S. would be permitted to appeal key American legal or regulatory rulings to an international tribunal. That international tribunal would be granted the power to overrule American law and impose trade sanctions on the United States for failing to abide by its rulings.”
I ask you , Kathy, how the hell are we to get a job with this type of lying to the people going on from a President you support?? Tell us. How the hell are our children supposed to support themselves? Tell us. Not your party talking points, your words.
"..how the hell are we to get a job with this type of lying to the people going on from a President you support??" Anonymous 12:21pm
"Lying?" Congress has done a good job assuring stimulus is curtailed because remember, when this President was elected Republican Congressional members pledged to do everything they could to assure Obama would be a 1x president. Hence, such "lame brained" political retaliation in the aftermath of "the worst recession since the 1930's" has slowed recovery. That is the track record you apparently support.
So, where does your political strategy lead? The most wealthy gain even more power and wealth, the safety net for the rest of us? Well. You said you're unemployed. So, here's how that might go. Your unemployment insurance goes bye bye, live off your financial reserves. If you're sick and don't have insurance, your choice (freedom). if you don't have money to buy food, no food stamps. This is a world you want to live in?
I know nothing about "talking points" (your reference to my 6/12, 11:43am comments). My personal opinion is just that (based upon observation, knowledge, practicality and humanity). Your 12:21pm reference to "talking points" is more likely due to mixed-up information you learned in a seminar.
“Under the agreement currently being advocated by the Obama administration..."
I'm not seeing this confirmed by any legitimate news outlets. So far it looks like it's still an unsubstantiated rumor.
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