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Author Topic: Public-employee pension obligations kill city's ability to provide basic service  (Read 2258 times)

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Offline Chris_

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Public-employee pension obligations kill city's ability to provide basic service
« on: December 12, 2010, 05:47:32 PM »
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Outrageous public-employee pension obligations kill the city's ability to provide vital services

Want to know the single biggest reason why New York City is thinking about laying off thousands of teachers, jacking up parking meter fees and scaling back fire protection?

The answer boils down to one word: pensions.

The public pension time bomb that fiscal watchdogs and this page have warned about for years is now exploding - and ripping huge holes in government budgets across the state.

No municipality will sustain more damage than New York City, which next year faces a mind-boggling pension tab of $8.35 billion - a 19% increase in one year - at a time when Mayor Bloomberg and the City Council are forced to hack away at practically every other expenditure.
New York Daily News

8.35 billion... that's about 75% of my state's entire budget for the year.
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Offline zeitgeist

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #1 on: December 12, 2010, 06:10:00 PM »
Quote from: chris_ on December 12, 2010, 05:47:32 PM
New York Daily News

8.35 billion... that's about 75% of my state's entire budget for the year.

The public employees will be in for a big dissapointment once they figure out the Golden Goose fable.  Reality is closing fast on their position. Public unions as extinct as the dodo bird.
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Offline true_blood

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #2 on: December 12, 2010, 08:45:52 PM »
You're kidding NYC?! I wouldn't have guessed. ::) My first guess would have been Commiefornia.
Keep on doing what you're doing, you red diaper doper babies. You liberal scum you. :argh:
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Offline NHSparky

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #3 on: December 12, 2010, 10:37:21 PM »
Quote from: chris_ on December 12, 2010, 05:47:32 PM
New York Daily News

8.35 billion... that's about 75% of my state's entire budget for the year.

That's about 90 percent of my state budget.

For TWO years.
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Offline Lacarnut

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #4 on: December 13, 2010, 11:50:59 AM »
Mayor Bloomy is a big spending, ass kissing liberal RINO, and to think this asshole is considering a run for Presidency.
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Offline DumbAss Tanker

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #5 on: December 13, 2010, 02:24:03 PM »
He'd pull more votes from the Dems than from the GOP if he ran Third Party, and I would hope he couldn't get into the GOP primary after switching out on them as mayor.  I swear Obama would do less damage in a second term than that ****er Bloomie would do if he got in for a term.
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Offline longview

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #6 on: December 13, 2010, 08:22:13 PM »
That's almost double my state's 2010 - 11 budget! 

The trouble, to me, is that these places will be looking for the rest of us to pay for them in the next few years.
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Offline Lacarnut

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #7 on: December 14, 2010, 12:47:35 AM »
The sorry Democrats have their eyes on the trillions of dollars in the Corporations pension system. They want to do what South American countries have done which is seize those funds and issue bonds. By the time those 30 year bonds mature, the way the government is devaluing the dollar, those bonds will not be worth shit. When China and Japan will no longer buy our debt, look for that to happen if the US does not bite the bullet and go on an austerity budget. 
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Offline rich_t

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #8 on: December 14, 2010, 05:46:33 AM »
This is what happens when cities allow unions to hold a gun to their head.

Screw em all.
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Offline true_blood

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #9 on: December 14, 2010, 01:23:26 PM »
Quote from: rich_t on December 14, 2010, 05:46:33 AM
This is what happens when cities allow unions to hold a gun to their head. Screw em all.
And yet, they still don't learn.
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Offline zeitgeist

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #10 on: December 14, 2010, 03:43:03 PM »
I was about to post to this thread when my connection went down taking the post with it.  As I sit waiting I will try to re create what I had intended to post off line. 

Hear me now, believe me later, think about it when you get a chance, no one wants to talk about the pension bubble on the not to distant horizon.  No matter what board, this topic seem to get little more than a passing glance.  Denial isn’t just a river in Egypt.

Every day the drum beat for means testing Social Security are gets louder and louder.  Moochers keep hungrily eying 401k’s all the while talking about fairness, redistribution, and risk reduction, the PBGC  is as close to broke as the pensions it has bailed out all these years. 

Private sector unions helped collapse more than a few businesses but public pensions will be the next 800 pound Gorilla in the room thanks to the unbridled greed of public unions.   

There is only so much the taxpayer can give.  No tree grows to the sky.
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Offline NHSparky

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #11 on: December 14, 2010, 05:03:16 PM »
Oh, come on zeit, it's already here.  We've got retired Portsmouth cops making $200K a year for life because they sold back their 5 YEARS of vacation/sick time to raise their final year of pay to astronomical levels, and then the taxpayers can't fathom why.
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Offline zeitgeist

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #12 on: December 14, 2010, 05:42:55 PM »
Quote from: NHSparky on December 14, 2010, 05:03:16 PM
Oh, come on zeit, it's already here.  We've got retired Portsmouth cops making $200K a year for life because they sold back their 5 YEARS of vacation/sick time to raise their final year of pay to astronomical levels, and then the taxpayers can't fathom why.

Well yeah, but P_town is different.  :sarcasm: ( isn't that the line ) ?  If I lived in a small NH town and knew I had to pay for these bloated pensions I would go nuts.  BTW if you think we are bad you need to find out how many Mass cops own lake / shore front property (at least they have the good sense to flee Mass asap after they rob their victims )

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Offline NHSparky

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #13 on: December 14, 2010, 05:48:12 PM »
Quote from: zeitgeist on December 14, 2010, 05:42:55 PM
Well yeah, but P_town is different.  :sarcasm: ( isn't that the line ) ?  If I lived in a small NH town and knew I had to pay for these bloated pensions I would go nuts.  BTW if you think we are bad you need to find out how many Mass cops own lake / shore front property (at least they have the good sense to flee Mass asap after they rob their victims )



You mean like the Sheriff down in Mass who blew his head off in Wells (?) when it was discovered how much he was slopping at the trough?
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“Any man who thinks he can be happy and prosperous by letting the government take care of him better take a closer look at the American Indian.”  -Henry Ford

Offline zeitgeist

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Re: Public-employee pension obligations kill city's ability to provide basic service
« Reply #14 on: December 14, 2010, 06:13:05 PM »
Quote from: NHSparky on December 14, 2010, 05:48:12 PM
You mean like the Sheriff down in Mass who blew his head off in Wells (?) when it was discovered how much he was slopping at the trough?

He was a piker. But at least he did the socially responsible thing when his scam was uncovered. 

How about the former Chief of P_town who became the town manager in Rye ( part time of course so he could continue fleecing the public ). 
But those are the more egregious examples, right?   :fuelfire:
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