Tuesday, July 05, 2011
The Local Government Pension Squeeze - WSJ.com
Think about this; and, then decide where it's going.
Not a pretty picture...
Not a pretty picture...
Steve Malanga reports in the Wall Street Journal:
"While the national media has focused on state budget face-offs between government unions and governors such as Wisconsin's Scott Walker, municipal officials like Mr. DeStefano are engaged in their own budget warfare. Wages and benefits account for 30% of state general fund expenditures, according to data from the National Governors Association. But U.S. Census surveys show that in the typical town or school district, employee pay and benefits can consume from 70% to 80% of the budget."
