Detroit Turns the Screws on Pensioners
show comments
  • Gene

    Not to nitpick, but there’s a trio to blame; the third group at fault here is the individuals who somehow believed that today’s reality could never come to pass, that their pensions really were ironclad. Now, maybe I’m heartless for “picking on the little guy,” but none of WRM’s proposed solutions for our ills can work without a higher level of wisdom (I’d settle for an uptick in skepticism) from the man in the street. Yes, everyone needs to up their game.

  • Dexter Scott

    He retired before 65 and he’s all mad that now he will have to work “well into his 60s”? Cry me a river. Most people in the private sector will have to work “well into their 60s” and will be lucky to retire at all.

  • MWFlorida

    I feel bad, but not too bad, for individuals getting their pensions reduced. They were getting above-market total compensation and they knew it. It was largely a product of a corrupt bargain where unions gave large campaign contributions to the very people who, once elected, “negotiated” with the people who bankrolled their campaigns. Imagine what happened!

  • Bruce

    An analyst on Wall Street, Meredith Whitney has been roundly criticized for predicting municipal bankruptcies that “haven’t” occurred. However, maybe they have occurred. Ms. Whitney says that governments diverted funds from basic services and infrastructure in order to pay pensions. When you do that, you are bankrupt.
    A well stated final line in this post. “We need to shut this racket down.”

© The American Interest LLC 2005-2017 About Us Masthead Submissions Advertise Customer Service
We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to and affiliated sites.