[ccmay]

The impending hyperinflation caused by union greed and liberal largess will reduce the real value of their salaries to near poverty levels and wipe out their pensions.

Nope. Their contracts have cost-of-living riders, and the state Constitution ensures they can never be required to give up even a nickel of their ill-gotten gains. With the help of a supine Assembly and compliant left-wing courts, they will suck the lifeblood of the state forever. They will get their pound of flesh even if it reduces the rest of the population to Zimbabwean levels of penury.

The only way to get rid of these parasites would be armed revolution and repudiation of all existing public employee contracts.

[Zakeet]

Nope. Their contracts have cost-of-living riders

Nope.

Here's how other countries in the same situation have overcome the problem:

1. They change the inflation index. For example, the CPI used to determine Social Security cost of living increases does not include food or energy components which are rising - but it used to. It does include housing costs which are falling. The change was made during the Clinton administration and has gone pretty much unnoticed since. It has cut the SS payout to about half of what it should otherwise be.

2. They delay both indexation reports and payouts. Even a few days is deadly when hyperinflation hits - imagine what can happen in three to six months. Government indexes are virtually worthless during hyperinflationary periods.

3. You said it - they simply repudiate the agreement.

Incidentally, Inflation is one of many ways governments abrogate contracts.

[Timeout]

the state Constitution ensures they can never be required to give up even a nickel of their ill-gotten gains.

So, why not amend the constitution? I keep reading that these benefits are cast in stone, but no one ever mentions a constitutional amendment.

I'd love to see an initiative providing for a) take-backs of excessive benefits and b) giving taxpayers yes-or-no say on any future pay/benefit increases for gov't workers.

[Sicvee]

I am thinking collapse, just like East Germany.