Public sector workers are about to get the shaft. Up until the recession (not caused by public sector workers) according to Robert Reich "public pension funds had an average of 86 percent of all the assets they needed to pay future benefits." Many of these pension funds were sold overrated mortgage backed securities that have been at the heart of the recession.
Now major corporations, the banks and Wall Street are experiencing record profits and record compensation, yet they are not hiring. The richest in the country are getting tax breaks worth hundreds of billions of dollars. Their friends in government are saying state budget problems are caused by state employees, their wages and benefits. This is the victory of greed and ideological purity run amok.
Now major corporations, the banks and Wall Street are experiencing record profits and record compensation, yet they are not hiring. The richest in the country are getting tax breaks worth hundreds of billions of dollars. Their friends in government are saying state budget problems are caused by state employees, their wages and benefits. This is the victory of greed and ideological purity run amok.
No comments:
Post a Comment