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It's the politicians' fault, and I used to be one negotiating one of these agreements. Here's how it works: Town's short on money. Revenue is up 2% and a fai
by jbooth 11y ago
It's the politicians' fault, and I used to be one negotiating one of these agreements.
Here's how it works: Town's short on money. Revenue is up 2% and a fair cost of living raise is more like 3%, let alone the fact that health insurance has been going up by >10% every year for the last 15 years.
How do we balance it? The unions are pros at this, some local politician is in there for a couple terms at most while the unions are playing a game measured in decades. Well, we could balance it with some deferred pension benefits in exchange for a 1% COL raise this year, right? That make everyone happy?
Fast forward a couple decades and here we are.
- inthewoods 11y agoTotally agree. Failure to reform the system is part 1. Part 2 is underfunding it and then making ridiculous assumptions on returns. How do we balance it? We balance it the way we tend to do things in this country - we wait until the system is on the verge of collapse and then the pensioners will either get their benefits cut, or taxes will be raised. Outcome will likely depend on the makeup of a given State or system. How long before one of the States with a good system starts advertising for young people to move there to avoid the problem?