| The US economy did not reach the brink of collapse because government retirees are too rich. |
| Frank C. Ortis [mayor of Pembroke Pines, a city of 150,000 in Broward County, Fla.] said the city cut workers’ salaries by 4 percent, privatized its buildings department, and ended the defined benefit pension plan for new nonuniformed hires.
Union officials decried the assault on public pensions, noting that the average pension is $19,000 a year, and that pension payments are usually only a small percentage of state and local budgets. Source: "Mayors See No End to Hard Choices for Cities" By MICHAEL COOPER - NY Times - January 21, 2011 |
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