[dragnet2]

Of 22 cities reporting surpluses, the majority, six, were in California.

_________________________________________________

I’m shocked!

[Da Coyote]

They are large, they are DemocRAT, and they are (naturally) broke. Hmmmm...I wonder. Naaaaaaah.

[packagingguy]

Urban Doom Loop

[TornadoAlley3]

Democrats-Send in more illegals.

[JSM_Liberty]

I read this book years ago about guaranteed pensions and the trouble they will cause

https://www.amazon.com/While-America-Aged-Bankrupted-Financial/dp/B001JQLN7I

While America Aged:
How Pension Debts Ruined General Motors, Stopped the NYC Subways, Bankrupted San Diego, and Loom as the Next Financial Crisis
by Roger Lowenstein

In While America Aged , bestselling author Roger Lowenstein explains how corporations and governments ran up ruinous pension and health-care promises to workers—promises that are now coming due and that will hit America like a tsunami if nothing is done.Negotiating high benefits means gambling with future finances—and when the farm gets sold out from underneath major corporations or public institutions, it affects all of us, and in ways we might not imagine.

With his trademark narrative panache, Lowenstein unravels the truth about how pensions work in America and illuminates the impending crisis. While America Aged is comprised of three fascinating case studies— each an object lesson and a compelling historical saga.

The first goes back to the early days of the United Auto Workers and its crusading leader, Walter Reuther, to tell the story of how pensions and health-care obligations destroyed the American auto industry, in particular General Motors.

Lowenstein then shifts the scene to New York City to tell the story of the rise of public pensions and public sector unions through the vehicle of the Communist-led Transport Workers Union. Once again, justifiable benefits were followed by outrageous ones, such as the right to retire at age fifty. The saga reached a dramatic climax in 2005, when workers responded to proposed pension cutbacks with a massive strike that brought New York’s subways and buses to a screeching halt days before Christmas.

In the concluding episode, Lowenstein visits a metropolis even more reckless in doling out benefits—San Diego. Desperate not to impose higher taxes, city officials in this highly conservative enclave cut a series of deals with unions to short-change the retirement system and use pension funds to run the city. A massive scandal ensued—two mayors resigned, officials were indicted, and San Diego lost its bond rating.

Lowenstein warns that the pension wars that erupted in Detroit, New York City, and San Diego are only the first. But he also recognizes that workers are entitled to decent security in their retirement—a critical problem as the country ages. While America Aged explains how we came to this crisis, and it also proposes a way out. Arming readers with knowledge of the consequences of doing nothing, While America Aged , first and foremost, a call to action.

[Opinionated Blowhard]

The problem with Socialism is that eventually you run out of other people's money.

[Ge0ffrey]

A democrat is like a big baby with a big appetite on one end and no sense of responsibility at the other.

[Rlsau1]

Democrats are only competent with failure. The examples are abundant and ridiculously illustrative.

[Neanderthal]

Rule by government unions.

[LegendHasIt]

Well, on the bright side, the US has so much surplus money that they can pay the salaries, pensions and healthcare for most Ukraine public employees.

[Blood of Tyrants]

Years ago cities and states made deals of lucrative pensions and healthcare in lieu of big raises, essentially kicking the can down the road. Now they are running out of road.

[cherry]

our wonderful govt class....just the best for all of them, all the time, no downside, no Pension Guaranty Board for them...

[ridesthemiles]

AND-—NOW A CALIF candidate wants MINIMUM WAGE TO BE $50 an hour.

[proxy_user]

Here in Connecticut we were way behind on funding pension liability. Governor Lamont, a Democrat but also a financier who understands numbers, pushed the legislature on funding the deficit.

We have come from the worst in the country to the middle of the pack, and our gov is determined to keep pushing them forward. Of course, the legislature would rather spend the money on gifts to the voters.

[Mark]

Most public pensions are guaranteed and all of the court judges are on public pensions.

[linMcHlp]

Billionaires

- - - - - - - - -

California		186		Maryland		11		Montana		4
New York		135		Michigan		11		Indiana		3
Florida		78		Tennessee		11		Nebraska		3
Texas		73		Oklahoma		8		Oregon		3
Illinois		23		Missouri		7		Hawaii		2
Massachusetts		22		Ohio		7		Kansas		2
Georgia		18		Virginia		7		Mississippi		2
Pennsylvania		18		Wisconsin		7		Idaho		1
Nevada		17		Arkansas		6		Iowa		1
Connecticut		13		North Carolina		6		Kentucky		1
Washington		13		Utah		6		Louisiana		1
Colorado		12		Wyoming		6		Maine		1
Arizona		11		New Jersey		5		Rhode Island		1
District of Columbia(DC)		11		Minnesota		4		South Carolina		1
								South Dakota		1

- - - - - - - - -

[ETCM]

We’ll just print more money to bail them out.

[Mark was here]

I don’t care. Just as the Unions can go on strike, the cities can go on strike and not pay.

[KC_Conspirator]

They voted for it, but the sad fact is that normies who did not will have to pay for it.

[frank ballenger]

It is overdue time to send more billions of US taxpayer dollars to the cash strapped woke cities. 💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲💲