Providence, R.I. workers' wages and benefits have become "the Pac-Man of our budget, consuming everything in sight," and must be cut. His budget-trimming proposals, including calls to privatize some jobs, have brought angry city workers into the streets in protest, and celebrity protester Al Sharpton to agitate for their cause.
While the national media has focused on state budget face-offs between government unions and governors such as Wisconsin's Scott Walker, municipal officials like Mr. DeStefano are engaged in their own budget warfare. Wages and benefits account for 30% of state general fund expenditures, according to data from the National Governors Association. But U.S. Census surveys show that in the typical town or school district, employee pay and benefits can consume from 70% to 80% of the budget.
Costa Mesa, Calif. (population 110,000) made news earlier this year when it sent layoff notices to 43% of its employees. In 10 years, the city's annual pension bill increased to $15 million from $5 million and now consumes 16% of the city's $93 million budget. In nearby Anaheim, pensions already account for 22% of its $252 million budget.
San Jose's pension costs for police and firefighters have quadrupled in a past decade. Without reform, the city estimates that its yearly pension costs, $63 million in 2000, will swell to $650 million in 2015.
Chicago- unfunded public pension fund liabilities are nearly eight times annual city tax revenues (estimated by Joshua Rauh of Northwestern University and Robert Novy-Marx of the University of Rochester at $44 billion)
New York City's annual pension contributions were $1.5 billion (6% of city revenues) in 2002. They've exploded to an estimated $8.4 billion (18% of city revenues) in 2012.
Answer by Carpy at 2:54 PM on Jun. 27, 2011
Answer by Carpy at 4:47 PM on Jun. 27, 2011
Trust me grly, it is. One girl stated Boby Kennedy was not given a chance as president because he was shot at his inauguration ball
Answer by Carpy at 8:17 PM on Jun. 27, 2011
OMG..... Well...if you worked for the Fire Department, for example, and retired, wouldn't you expect a pension? Especially since your whole career was based on risking your life for others? Same for any job that promises a pension. Is it fair to say : "Oops, sorry, guess you don't get that pension after all..." after 40 years or so of hard work for the city. There is no justification for objecting to money spentfor PENSIONS! They could take funds from other areas ...maybe from the salaries of the rich guys at the top who mostly delegate and sit in bars with others , pretending to be "important" members of city governments.Something has ti be done and pensions need to be guaranteed.
Answer by minnesotanice at 9:07 PM on Jun. 27, 2011
Unions do not/ did not unilaterally determine those benefit contracts. Government officials negotiated with those leaders and agreed to those final contracts. WHY was the math not done prior to finalizing those agreements? WHY wasn't the answer "NO" ?
Answer by Sisteract at 10:14 PM on Jun. 27, 2011
Answer by agentwanda at 10:36 PM on Jun. 27, 2011
Next question overall
(Trying to Conceive)
How long after you stop using the Ortho evra patch can you become pregnant?
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