This is the case all over the country. City after city, every dime that comes in goes to support retired employees. And they are not the bad guys. The bad buys made the promises and didn’t fund them and they are long gone.
So what do you do? God knows but of the retirees aren’t willing to take less they are going to end up with nothing.
Exactly!
They made promises, but didn't fund them. Which means they spent the money on something else. Where did it go? What was the biggest budget item they spent it on instead? What is always the biggest budget item, current wages and benefits for current employees! They robbed their own future pensions, by taking higher up front wages. Higher than the taxpayers could afford if they were also to pay for the pensions, and higher than comparable private industry was paying. The decisions were made by their elected union leadership, colluding with their selected Rat politicians. What they did was, correctly, made illegal, for private industry, under Clinton IIRC. Do NOT feel sorry for them!
Feel sorry for the private taxpayers they're trying to hit harder, taxpayers who's own 401K pension funds have shrunk from a recession caused by the government (i.e. caused by the current whining class) while the whiners who caused it keep saying their purposely underfunded pensions should retain full value. Some of them fully understood what was going on. The rest, who claim to all be elites, should have understood it. Ignorance of the laws (of economics) is not a defense.