Tag: Detroit’s bankruptcy
If benefits are to be cut, cut them fairly. Public employees in Detroit are looking at the prospect of substantial cuts in their pension benefits – not cuts to future benefits but actual reductions in the amount that retirees are currently receiving and current workers have earned to date. As a rule, I hate to…
The brief’s key findings are: Detroit’s bankruptcy and Chicago’s fiscal problems have led some to question whether cities nationwide are in trouble and if pensions are the reason. But a search for cities identified by the media as financially troubled found only a small number overall, with about one-third located in California. And, among t…
