Posted on 05/08/2012 12:36:48 PM PDT by appeal2
www.FinancialSurvivalNetwork.com presents:
Thom Reilly was manager of Clark County Nevada from 2001 to 2006; he got out just before the crash. When it comes to understanding our insane economic world or municipal labor contracts and benefits, he has an insider's understanding. He's written a book Rethinking Public Sector Compensation--Whatever Happened to the Public Interest?, and it will be released later this week. In his new book, Thom chronicles the true cost of bloated pensions, lifetime health care, and why things are headed for a possible disaster, if our leadership does not start addressing the issue soon.
Little things like merit, initiative, and creative thinking fall by the way-side when it comes to hiring and compensating public employees. The system is geared towards longevity and achieving the maximum benefit level that the public will pay. Such views, untempered by the reality of the marketplace, have given us an unsustainable state and municipal financial system that is getting ever closer to collapse. If the eventual collapse occurs, the promises that were made to government workers will not be worth the paper they were written on. Thom however, has a number of ideas that can avert that inevitability.
THIS is true of ALL Unions.....protecting the lackluster/dead-beats with Seniority Rights, and firing becomes nearly an impossibility.
Yes; the Public Sector (which should NEVER be allowed to Unionize) is the most SERIOUS OFFENDER, INCLUDING CONGRESS.
Six-figure Retirements are becoming the Norm, and, golden Healthcare Benefits, IMMUNE from Obamacare, too.
Silly article. Public-sector union pay cannot be rethought. At least not without occupations of capital buildings, riots, looting, dogs and cats living together, etc. That’s what collective bargaining “rights” were all about. So that when a state was no longer able to meet its obligations, too bad.
Unions own their pensions by “right.” Nothing you can do about it, even if you by chance manage to elect a majority. We have to get paid so we can fund campaigns so politicians can write new laws giving us more money. Short someone else. Or raise taxes, which we’ll probably manage to spend on ourselves yet again.
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