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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: skinowski who wrote (66160)6/13/2007 4:32:21 PM
From: ajtj99  Read Replies (2) of 116555
 
Skin, I believe the next pinch for the states will have lots of people looking at public employee compensation to be brought more in line with the private sector.

For example, I don't know why fire departments must be staffed by public employees. It could be done by the private sector for about 30% less. Pensions, insurance, etc. all must be brought in line with private sector norms.

Why should the average citizen pay for some civil servant to have their own special health coverage in retirement when most private sector employees only have medicare?

The states are going to have to reform their compensation. It's ridiculous that governors of Illinois and New Jersey would rather sell off infrastructure and lotteries, sell bonds against future tobacco payments, and raid rainy day funds than tackle the real problems causing these budget shortfalls.
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