"A republic, if you can keep it." Defeat MAGA
"A republic, if you can keep it." Defeat MAGA
The city said municipal workers must now pay 20% of their medical coverage and that everything was done to avoid this day but the unions wouldn’t budge. Mish Central Falls was bankrupt years ago and I said so repeatedly. The…
Government pensions, including CalPERS and the other public pension plans in California, are permitted to use far laxer accounting standards than private pension plans. This allows them to greatly overstate how much money they have and to understate future liabilities,…
California, along with many other states, has unfunded public pension obligations that it hasn’t the remotest possibility of being able to meet. A Stanford study last April determined California’s unfunded pension liabilities to be $500 billion. That’s right, California owes…
During the Great Depression, Congress passed an act saying states and municipalities could file for bankruptcy. The law was challenged and part of it was overturned by the Supreme Court in 1936 in Ashton v. Cameron County Water Imp. Dist.…
Pensions eat 70% of Decatur, Illinois’ budget; New York City’s $76 billion shortfall; Houston Mayor wants pension benefit cuts The coming battles in 2011 over public pensions will be brass-knuckled death matches. Liberals, progressive, and unions howl that conservatives want…