Thread: LA Mayor Says "No Question You’ll See Cities Default

Wednesday, January 19, 2011 8:13 PM

LA Mayor Says "No Question You’ll See Some Cities Default"; Mayor Daley Says "I wouldn’t doubt it"; NY Mayor Goes After Public Pensions

In a long overdue move, New York Mayor Michael Bloomberg is calling for increased retirement ages of public union workers, changes in union seniority rules, and the ability to negotiate directly with unions instead of the state setting pensions.

Chicago Mayor Daley and Los Angeles Mayor Antonio Villaraigosa both warn of defaults even though the LA Mayor downplays LA's default risk. In Washington state, Governor Christine Gregoire, a life-long bureaucrat and part of Washington's problem, at long last has her hands tied by voters refusing to accept more tax hikes.

New York Mayor Michael Bloomberg Goes After Public Pensions

The New York Post reports Bloomberg warns of deep budget cuts http://www.nypost.com/p/news/local/bloo ... z1BWahkBm6

Mayor Bloomberg warned in his “State of the Cityâ€

Simple solution is to in 2012 pass legislation that Public Pensions and State budget woes cannot be bailed out by the Feds. States either fix their own problems or those pensions just vanish. I'd bet more Public Unions would be comming to the table with serious changes in mind after a state says "we're filing state bankruptsy of the pension plan next year". To many just don't care if the state collapses cause Uncle Sam will bail it out.

and how much of your budget go's to Illegal Aliens

But its LA. They have no illegal aliens.... only undocumented citizens. Didin't you get the memo?

Seriously though I'd bet 1/3 of their budget is due in some way or another to illegal aliens.