Union benefits Break Drive Cal-City to Bankruptcy

[mandym]

...The river port city of 290,000 in Central California has seen its property taxes and other revenues decline, while expensive investments and generous retiree benefits drained city coffers.

Read more: http://www.foxnews.com/politics/201...-us-city-to-declare-bankruptcy/#ixzz1z1O9sgkv

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Having retirement set at the age of 50 and receiving a 6 figure pension is never sustainable. But unions do not care they want the government to raise taxes so they can retire early and then get another job somewhere else and live like kings off the taxpayers backs.

 

[Salty]

Lets hope this is a wake up call!

Here in my county the DA has just retired with a package of 80 grand a years. The next day, he was re-hired (technically) and receives 100 grand pay. For those who are poor in math - he is getting 180 grand a year.