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San Fran, the poorly run city, owned by unions and Democrats, is $522.2 million in deficit. But why?
"Ten years ago, some 23 percent of city workers salaries were benefit costs. We spent $383.7 million on health insurance for active and retired workers, retirement contributions and Social Security. In the current fiscal year, that bill jumped 132 percent to $890 million. Three years from now costs could hit $1.4 billion at least 52 percent of the citywide payroll by fiscal year 2013-14, according to the Department of Human Resources latest report."
By 2013 52% of the budget will be union benefits--not pay--but benefits.
This is a good thing--it will cause even the Democrats to end worthless, wasteful programs, fire unneeded employees and maybe have a sense of reality in the budget process.
Oh, and Los Angeles, another Democrat union owned city, is in even worse trouble--there deficit in a couple of years will reach $1 billion--for the same reasons.
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"Ten years ago, some 23 percent of city workers salaries were benefit costs. We spent $383.7 million on health insurance for active and retired workers, retirement contributions and Social Security. In the current fiscal year, that bill jumped 132 percent to $890 million. Three years from now costs could hit $1.4 billion at least 52 percent of the citywide payroll by fiscal year 2013-14, according to the Department of Human Resources latest report."
By 2013 52% of the budget will be union benefits--not pay--but benefits.
This is a good thing--it will cause even the Democrats to end worthless, wasteful programs, fire unneeded employees and maybe have a sense of reality in the budget process.
Oh, and Los Angeles, another Democrat union owned city, is in even worse trouble--there deficit in a couple of years will reach $1 billion--for the same reasons.
More...