Detroit bankruptcy approved; IL passes pension reform
Original post made by Joe on Dec 3, 2013
The bankruptcy judge said that Detroit could have, and should have, filed for BK earlier.
On a more positive note, the Illinois legislature passed pension reform, lowering the cost-of-living increases for state public union workers, requiring them to pay more into their pensions or swap to 401K-type plans, and retire later. The measure is designed to reduce the $100 billion debt that Illinois has due to public worker pensions.
Not surprisingly, the unions in both Detroit and Illinois are threatening to appeal and sue.
The Illinois measure does nothing for the city of Chicago, which must pass its own set of pension reform measures to avoid the same fate as Detroit.
Here in CA, the pension reform measure proposed by San Jose mayor Chuck Reed has been opposed by a consortium of mayors, including, if you can believe it, mayor Jean Quan of Oakland. If there was any city that could benefit by diverting some of the money now going to pensions to its police department, it would be Oakland.
on Dec 3, 2013 at 8:58 pm
What do all of these cities have in common? Democrats in power for years. No one else to blame but the foxes guarding the henhouse.
on Dec 3, 2013 at 10:21 pm
Give me but one reason, one reason I ask you, why on earth the good people of Detroit or Chicago would want to vote for a Republican -- other than that they could have a political representative who lives in the suburbs, travels into the city for sports events, to use the public library, to attend cultural museums and events, and who then complains about state taxes used to subsidize the city. Short answer: None of the above, as there is no good reason for urban dwellers to vote Republican (and which is born out in election results). Reason? Urban dwellers have begun to figure out what parasites Republicans and their wealthy puppeteers actually are. Republican response? Do everything possible to suppress the vote; for Republicans see the democratic masses as a threat to their wealth and control.
on Dec 3, 2013 at 11:42 pm
What on earth is Bill L rambling on about ??? Totally Irrelevant to this discussion. The all democrat city of Detroit has been totally sucked dry by all the democrat 'patronage' boards and commissions nursing at the public trough. The same 'public patronage' types are sucking the life out of Chicago and Oakland as well. Union 'demands' is all they know. Ignorance and greed rule.