This is the logical and long predicted result to the irresponsible fiscal management of Dems. The result is far worse than it needed to be if the fiscal irresponsibility hadn’t gone on for so long. from the Article: ““We’ve done our share to try to fix this place,” Barney said. The system covers about 30,000 workers and retirees. “For us, this is about putting food on the table,” said Dan McNamara, the Detroit Fire Fighters Association president. He said it was disturbing to hear talk of cutting pensions for people who get $1,000 a month or less from the system. “We’re talking about human beings here, not bondholders looking for a return on investment.” There’s no way employees or unions will bargain away pension benefits, said Michael VanOverbeke, a lawyer for the general employees retirement system, after the meeting.Michigan’s constitution prohibits changes in accrued pension benefits, he said. Orr has said that a bankruptcy filing would negate the state protection.”
Posted on: Thu, 11 Jul 2013 13:40:12 +0000
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