And I don’t like ’em very much either.
New York is next in line for sever economic hardship. And they don’t have to be. Clearly, New York is the center of the nation and even can be considered the hottest spot in the world. And for some reason, they are sliding down a path of destruction.
The latest news coming from the Big [but getting smaller] Apple is:
Mayor Bloomberg has already allocated $7.4 billion to fund the city’s five pension systems next year, up a worrisome 13 percent from the $6.6 billion being spent this year. When Bloomberg took office in 2002, taxpayers contributed just $1.3 billion toward the pensions of city workers.
But officials had to reserve the additional $600 million because the city’s actuary, Robert North Jr., is completing an analysis of an “experience study” that will almost certainly show retirees are living longer.
And how are these Union thugs able to pry this money from the people of New York?
“This is the reality of having a system controlled by the Legislature that mandates what the city should spend,” he said.
Although city taxpayers have to pick up the bill, it’s the state Legislature that dictates the level of pension benefits.
So, big government Leftists are able to elect State Legislatures who then pass laws forcing the cities to pay these pensions.