Friday, April 10, 2009

NYC Time Bomb

New York City is facing a dire emergency in terms of the benefits it has promised to city workers in the future. The city currently pays more for benefits than for salaries but run the numbers and the costs become astronomical in a few years. It's been easier for decades for city leaders to make concessions to unions that come out of future budgets than to pay more today.

Well, the future has arrived.

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