EDITORIAL: Public-sector unions bankrupting America
April 23, 2010 Filed in: Unions
April 23, 2010, The Washington Times
Usually it takes a national
government to spend itself into a debt measured in the trillions.
Yet it comes as little surprise that the same profligacy that
pervades the corridors of federal power infects this country's
87,000 state, county and municipal governments and school
districts. By 2013, the amount of retirement money promised to
employees of these public entities will exceed cash on hand by more
than a trillion dollars … California's public-employee retirement
system stands in the most perilous condition, facing a
half-trillion in unfunded liabilities…