Career Calling

April 6, 2014

Blame the Workers and Their Pensions

David Sirota of Pando Daily has written an excellent article on Chicago mayor Rahm Emanuel and his plan to “reform” pensions for public workers. According to Sirota, the city has not made its share of contributions to pension funds for the last 14 years. At the same time it has built up TIF (Sirota calls them “slush”) funds that could have covered a good part or all of the missing pension contributions. I urge you to read this article because, as Sirota says, this is not a problem unique to Chicago. Across the U.S., political leaders of both parties are claiming pension funds are in crisis. What they almost never discuss is how the crisis came to be and who should be responsible. The rule of our time seems to be: Workers must pay, so the rich and their government representatives can play.

 

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