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Unreasonable unions sink entire city. - Reality Hammer - For People Who Can Handle The Truth
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liberalism kills liberty dead
Unreasonable unions sink entire city.
Remember when the teachers in Central Falls, Rhode Island refused to make minimal changes in order to save their highly-paid, cushy jobs (which were apparently to fail to teach kids how to do things like read and write) until they got fired?

Well, the whole city is now "fired" thanks to similar circumstances with the rest of the unionized city workers dragging down the city into bankruptcy.
The smallest city in the smallest U.S. state made the filing as it grappled with an $80 million unfunded pension and retiree health benefit liability that is nearly quadruple its annual budget of $17 million.

That's right...a city a mere 1.3 square miles racked up tens of millions in retirement benefits it couldn't pay off.

Just what Scott Walker and other Republicans have been saying will happen to entire states if changes are not made.

Oh and did I mention the entire nation has a similar problem?

Current Mood : not surprised determined
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Comments
mrbogey From: mrbogey Date: August 2nd, 2011 11:50 am (UTC) (Link to this entry)
It's called a pension bomb.

It may very well kill this nation.
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