@crowbar, as I understand this article, it’s the super-generous pension plans and retiree health care benefits that are bankrupting NYC. I think the obvious solution is to renege. It’s ludicrous that retired cops and retired teachers make more in retirement (we’re talking $50k to $100k a year) than the average actively-working person earns. It’s the unions, of course, that force this on the taxpayers.
I really hope this debt is not foisted onto the NYC, NY State, or US taxpayers. The obvious solution is for NYC to just plain renege on promises to the unions and eliminate or drastically reduce the pensions and benefits of city employees.
NYC also dug itself into a hole with FREE COLLEGE FOR ALL and FREE PRE-K FOR ALL, and rolling out the welcome mat for 1 million illegal aliens.
What our mayor is not considering is that you can shake down the rich and middle class only for just so long, then they get so sick of the taxes that they move out of the city.
