Scott, You are right that there are savings in the agreement. Unfortunately, the savings you point out as being real are small. Although they save the state money in the short run, they do nothing to address the long-term problems - what some call the 'structural deficit' - Malloy claims to have fixed. Malloy got the budget out the ER, but our state finances are still in the intensive care unit, to speak metaphorically.
What an aggressive discount rate! The state thinks it can generated 5.7% annually in very conservative investments?! If Connecticut moves forward as if this is a reality, only crisis awaits them at the other end.
More evidence of "legal" corruption by public unions - as yet another dirty deal is inked so that public unions will continue to fill Democratic coffers with monies originating as tax dollars, and as public unions throw their weight in favor of their puppets.
Those who oppose this sorry state are put in an impossible position - to eke out enough private campaign money to offset the taxpayer subsidy to the Democrats campaign fund. The alternatives for citizens and businesses are simply to leave, although Democrats have been successful in importing foreigners to make up for lost population.
After all, who would want to live in a state with such corruption? Naturally, the Democratic media says nothing about this, since it would be to the detriment of Democrats. But there has to be a limit to how far this can go, as this only goes in one direction toward ruin. A second Obama term would result in those States with this corrupt system in place having access to federal assistance. But, overall, this mode of governance only leads to disaster - as Democrats seek to add more and more government workers to the employment rolls as part of its Greece like Ponzi scheme.
And, to reiterate, the Democratic media will say not a word about it as Connecticut continues to waste away its wealth.
More and more it appears that too many Americans are either not paying attention or support this corrupt scheme that is eating away at the body politic. It may be that we will start to hear calls to separate from those who believe in government by and through corruption. I predict that this will be discussed more and more in the coming months as it appears that the takers outnumber the makers.
Hey Zach - Generally agree that the savings were not as large as stated. However, there are good savings, no pay increases, additional 3% payment to long term health care and doubling of the early retirement penalty. Another point is that the "new" retirement plan should have been a 401k plan or at least increase the employee payment amount and tie the retirement age to Social Security age
A farce from the beginning. No reduction in size of government and more taxes in the state for everyone. Malloy is a sham.