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Who says there is a government pension crisis?
"After the stock market crash punched a big hole in their CalPERS investment funds, a new report says 26 local government agencies reduced pension benefits — but nearly 200 cities, counties and fire and water districts increased pension benefits.
A report issued last week by a bipartisan state watchdog, the Little Hoover Commission, said 13 local governments boosted pensions for police and firefighters to the well-publicized “3 percent at 50” formula said by critics to be unsustainable."
The unions are good. Sadly, the taxpayers do not have a representative at the negotiating table. Those at the table represent elected officials who took money from unions.
We need to end all government pensions for current and future employees. Let them be like real Americans--Social Security and 401(k) plans for everybody. We can no longer afford an elitist class of government employees.
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"After the stock market crash punched a big hole in their CalPERS investment funds, a new report says 26 local government agencies reduced pension benefits — but nearly 200 cities, counties and fire and water districts increased pension benefits.
A report issued last week by a bipartisan state watchdog, the Little Hoover Commission, said 13 local governments boosted pensions for police and firefighters to the well-publicized “3 percent at 50” formula said by critics to be unsustainable."
The unions are good. Sadly, the taxpayers do not have a representative at the negotiating table. Those at the table represent elected officials who took money from unions.
We need to end all government pensions for current and future employees. Let them be like real Americans--Social Security and 401(k) plans for everybody. We can no longer afford an elitist class of government employees.
More...