Tuesday, December 28, 2010

Our Sad Times: Michigan town is left pleading for bankruptcy

Today's NYtimes tells us the sad facts of today's financial lanscape: municipalities considering bankruptcy. 

Keep giving your friends in the public employee unions defined benefit pension programs and year-after-year raises (after faux wage freezes) and you too NE Ohio municipalities could face this dilema.

How about this? If the budget can't be balanced...cut all wages and benefits enough to do so? Perhaps lose the recreation department in some cases? Perhaps cut pension payments to retirees?  Just don't come begging to us.

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