This topic contains 9 replies, has 5 voices, and was last updated by 
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Crap. That’s not good.
It seems to me that an economic collapse (the hardcore event, not the slow death part) might visibly hit the big cities first, then trickle down to the rest of us.
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Yeah, and guess who will have to bail these public benefit funds out?
Us taxpayers.
Could be surprised and it go the way of Detroit. Now was it bad for those folks. Yes. But if anyone is to be blamed it was government mismanagement. As it is with many of these funds. They make assumptions and dont factor in downturns. -
@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.-
MM thinks the city should renege on the pensions being paid to retired city employees. Really? I would agree that the program be changed for all new hires, but once someone has worked for years with the promise from the employer that if they did X the employer would do Y its not the employee’s fault. NYC, as well as most Democrat-controlled cities, waste so much money that the administrations should be the ones held accountable. Some guy who rode a garbage truck all his working life gets his pension slashed or cut completely while a city’s administration continues to give free education to illegals, does favors for big campaign contributors at the taxpayer’s expense, and involves themselves in all sorts of shady deals and pocket stuffing is just not right or fair… its criminal!
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@molly-malone,
Unfortunately you are right.
I read an article that NY state is actually loosing net population, after adjusted for births, deaths, migration in and out of the state.
And the number one reason: High taxes.
Second was the weather. -
AnonymousThe problem with people moving out of high taxes states like NY and CA, is that they seem to forget the reason why they moved. We have lots of Californians expat here and there is no tax rise or government program expansion that they vote down. Teachers needs better pay, fire department more trucks, roads need to be better, name it. They always push for more taxes and make our state a worse place to live in.
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Anonymous@james-mitcher, blaming the politicians only is wrong because the garbage truck driver was a union member. Unions are represented on the board of pensions funds and negotiated the deals with the politicians. The workers got scammed by both, their political representatives and their union representatives. And add to that by their ignorance.
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The administrations negotiated the contract terms, not the employee. In fact, if the employee wanted the job to begin with they are forced to join a union. Screwing employees solves what? Those who cultivated this environment moves on with stuffed pockets and the employee is screwed.
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AnonymousThe one that get screwed are the one who supported the system so, they cannot complain. I understand you do not believe you are responsible for what others do in your name but that’s just it, your belief.
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