U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Politics and Other Controversies
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 08-02-2011, 02:29 AM
 
Location: Houston, TX
2,239 posts, read 2,963,457 times
Reputation: 1176

Advertisements

Cash-strapped RI city files for bankruptcy - Yahoo! Finance

The city can't afford expensive pensions promised to their employees.
Should pensions still exist for Gov't workers? Shouldn't they open 401K's like the rest of us?
Rate this post positively Reply With Quote Quick reply to this message

 
Old 08-02-2011, 06:19 AM
 
Location: Raleigh, NC
20,003 posts, read 16,669,654 times
Reputation: 3784
Green shoots!
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:48 AM
 
Location: Portland, OR
8,802 posts, read 8,073,692 times
Reputation: 4505
Unions will probably still persist in obtaining non-existent cash.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:50 AM
 
Location: Chicagoland
41,313 posts, read 41,478,858 times
Reputation: 7108
And why did they file?

Because the public sector unions REFUSED to concede the necessary rise in pensions/benefits/HC for their members.

Now all contracts are VOIDED.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:52 AM
 
36,388 posts, read 19,679,514 times
Reputation: 17315
I don't have a pension, why should I be forced to pay for one of a complete stranger?
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 09:55 AM
 
Location: Land of debt and Corruption
7,544 posts, read 7,631,655 times
Reputation: 2883
Unions love to shoot themselves in the foot. Expect to see more of this in the future.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 10:02 AM
 
41,823 posts, read 45,034,040 times
Reputation: 17746
Quote:
Originally Posted by Frank DeForrest View Post
I don't have a pension, why should I be forced to pay for one of a complete stranger?
The problem is they were promised these benefits, really bad decision that seems to have been repeated in numerous places across the country over the last decade. Many governments state, county and locals are in the position of having to make good on those promises. They should have never been given in the first place.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 10:05 AM
 
12,270 posts, read 10,158,367 times
Reputation: 8053
Quote:
Originally Posted by whatyousay View Post
Unions love to shoot themselves in the foot. Expect to see more of this in the future.
Yup. If the city is sucessful I'm sure we'll see others do the same thing.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 10:21 AM
 
12,176 posts, read 11,933,452 times
Reputation: 10211
Quote:
Originally Posted by thecoalman View Post
The problem is they were promised these benefits, really bad decision that seems to have been repeated in numerous places across the country over the last decade. Many governments state, county and locals are in the position of having to make good on those promises. They should have never been given in the first place.
That's the issue here.. and they were promised these benefits as a reward for working for less money than they would have in the civilian sector. If they knew they weren't going to get a pension, they would have opened up a 401k like "the rest of us." They didn't. They foolishly expected to get what was promised to them.

And by the way, if you think your taxes are going to down one red cent when public pensions are stolen away, lol... you're an idiot.
Rate this post positively Reply With Quote Quick reply to this message
 
Old 08-02-2011, 01:11 PM
 
Location: Norman, OK
3,479 posts, read 6,636,327 times
Reputation: 1198
Quote:
Originally Posted by Frank DeForrest View Post
I don't have a pension, why should I be forced to pay for one of a complete stranger?
Do you have a 401(k) at work? If so, do your employers make a match to it (up to a certain point)?
Rate this post positively Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Politics and Other Controversies
Similar Threads

All times are GMT -6.

© 2005-2021, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top