Quote:
Originally Posted by whell
Yup. Dems suing dems because the they've sucked the public trough dry. Then watch the blame game start.
Cities all over the the country are under financial stress or going into bankruptcy because they're overspent. One of the biggest financial challenges that most cities face is trying to figure out how to fund their pension obligations for pensions that far more generous than the private sector. They're trying to figure out how to cover the nut for health care costs, which are typically more generous than the private sector. Since these cost have been rising for years and administrations like Scranton have kicked the can down the road, the costs are now beyond what the cities can sustain.
See? Ain't that hard to figure.
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Not hard to have a better pension than the private sector since many in the private sector declare bankruptcy then get some judge to let them walk away from their underfunded pension plans - United Airlines ring a bell?
Of course then you and I pick up the tab under the fed pension guarantee fund.
So it is not only the public sector that has been kicking the can down the road.