I think the city should pay the outrageous retirements and when they run out of money declare bankruptcy on the retirement so they don't have to pay any more. They are spending in the future what they don't have and the tax payers are expected to make up the difference.
“The budget must be balanced, the Treasury must be refilled, public debt must be reduced, the arrogance of officialdom must be tempered and controlled, and the assistance to foreign lands must be curtailed, lest Rome become bankrupt. People must again learn to work, instead of living on public assistance.” Cicero, 55 B.C.
Quoting Richard Rider ..."I actually look forward to San Francisco's coming bankruptcy and/or insolvency. Talk about social justice!!"
Agreed, as long as 75% of these fraudulently "negotiated" pensions are eliminated as part of the bankruptcy settlement.
This would go a LONG WAY toward getting the greedy Unions/workers to go along with the VERY needed reforms in the many other cities and states that desperately need them.
Public Sector Unions should be eliminated.
They are a CANCER on Society.
I have indeed read PLUNDER. Indeed, I'm quoted in it! Excellent work -- should be required reading for all voters.
My point is that liberals are SUPPOSED to be economically illiterate. What is REALLY tragic is that it makes little difference whether or not one is in a liberal or conservative jurisdiction. This political giveaway has occurred regardless of the party affiliation of the voters or the politicians. I've seen all too much of this madness in "conservative" San Diego County.
The majority of SF employees do not reside in the city,therefore, are ineligible to vote on issues,so it's up to the schmucks who do live there to pass these measures.
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Good point, Richard.
More to the point, can one buy CDS's on San-Fran debt in the 10-25 year maturity range, since the controller has thoughtfully identified the time frame when the bills will come due with biblical vengeance.
And most of the many state underfunding situations will also go critical in the same time frame.
Although your "social justice" take seems harsh, it is the will of the citizens, who voted in the clowns currently in office.
If you've not read Greenhut's book, PLUNDER, you don't understand what California and the entire country is up against when it comes to public unions.
It would be a tragic injustice for liberal San Franciscans to suddenly come to their senses and vote for Prop D. They deserve Prop C, the labor union's baby.
The LAST thing we need in California is liberals discrediting their hard-earned reputation for being compltete economic illiterates.
I actually look forward to San Francisco's coming bankruptcy and/or insolvency. Talk about social justice!!