Finance

Connecticut Unions Prefer Layoffs to Pay Freeze

Connecticut Unions Prefer Layoffs to Pay Freeze

Here is yet another example of the unrealistic, self-defeating obstinacy of rank-and-file public union workers: In Connecticut, AFSCME and other public unions voted down a proposal negotiated over many months that contained a “no layoff” clause for 4 years in return for a pay freeze for 2 years. That was an amazingly generous offer. The...

By Mike Shedlock

Pension Fund Contributions Aren’t Enough

Pension Fund Contributions Aren’t Enough

The San Diego Union Tribune ran a report on June 17th entitled “Escondido firefighters do contribute to pensions.” Apparently this report was to correct an error from a previous article in which the Tribune stated that Escondido’s firefighters did not make any contribution to their pension. In reality the firefighters contribute to their pension fund...

By Editor

The Role of the Prison Guards Union in California’s Troubled Prison System

The Role of the Prison Guards Union in California’s Troubled Prison System

Jailing is big business.  California spends approximately $9 billion a year on its correctional system, and hosts one in seven of the nation’s prisoners.  It has the largest prison population of any state.  The number of correctional facilities, the amount of compensation for their unionized staffs, and the total cost of incarcerating a prisoner in...

By Tim Kowal

Government Unions Consolidate Power in Illinois

Government Unions Consolidate Power in Illinois

Illinois has a budget deficit of $8 billion and has billions of dollars in unpaid bills. Those problems persist after the largest tax hikes in history. However, Illinois is wasting millions of dollars in programs that many would consider absurd even in good times. For example, please consider $365K In Taxpayer Dollars To Teach People...

By Mike Shedlock

CSEA Understates Average State Pension

CSEA Understates Average State Pension

Today’s Sacramento Bee featured a viewpoint column entitled “Pension ‘Reformers’ distort facts on benefits.” The column was written by Martha Penry, “a special education teacher’s assistant in the Twin Rivers school district.” Not disclosed in the article was the fact that Ms. Penry is also a high ranking public employee union official, as evidenced by...

By Editor

How California’s Prisons Got So Bad

How California’s Prisons Got So Bad

In the Assembly last week, legislators praised ethnic studies departments and had long-winded debates before voting to ban the trading of shark fins in California. But while state government becomes ever-more meddlesome in ever-expanding areas of private life, it’s increasingly clear that the Legislature and the state bureaucracies are incapable of handling even the most...

By Steven Greenhut

Structural Problems in Greece Compared to US

Structural Problems in Greece Compared to US

Many countries have restrictions and requirements on doctors, nurses, lawyers etc. Greece carries the idea to extreme. According to Keep Talking Greece “closed professions” include beauticians, drama and dance school instructors, bakers, antiques dealers, insurance agents, insurance consultants, employment consultants, diagnostics centre staff, translators, divers, cameramen, driving school instructors, cab drivers, tourist bus drivers, newspaper...

By Mike Shedlock

Why Real Rates of Return Will Fall

Why Real Rates of Return Will Fall

Earlier this month the Wall Street Journal published an article entitled “Private Accounts Can Save Social Security,” authored by Martin Feldstein, former chairman of President Reagan’s Council of Economic Advisors and a member of the Wall Street Journal’s board of contributors. In this article, Feldstein made the following assertion: “With a 3% payroll deduction, someone...

By Editor

Unionized Lifeguards Making Over $200K per Year

Unionized Lifeguards Making Over $200K per Year

Those looking for more public union insanity can find it in Orange County California. The Orange County Register reports Lifeguarding in OC is totally lucrative; some make over $200k. When thinking about career options with high salaries, lifeguarding is probably not one of the first jobs to come to mind. But it apparently should. In...

By Mike Shedlock

Illinois Raises Taxes to Subsidize Corporations and Overpay Government Workers

Illinois Raises Taxes to Subsidize Corporations and Overpay Government Workers

As proof of the misguided, counterproductive policies of Illinois, Governor Quinn hiked corporate incomes taxes to bail out a state deep in fiscal trouble, (it did not and will not work), now grants corporations hefty incentives to not move to Texas. The Chicago Tribune reports $100 million keeps Motorola Mobility in Illinois Gov. Pat Quinn...

By Mike Shedlock

Public Servants Lack Accountability

Public Servants Lack Accountability

Union arguments in favor of their members’ lush pensions are falling by the wayside as the public examines the facts. For instance, union officials argue that the average public-sector pension benefit in California is “only” $30,000 a year, while neglecting to mention that the number, according to the state’s watchdog Little Hoover Commission, rises to...

By Steven Greenhut

California Pension Restructuring Proposal

California Pension Restructuring Proposal

According to the CalPERS website, in their California Investments section, “as of January 31, 2011, approximately 10.3 percent of CalPERS total assets are invested in California.” This means that out of the $233.5 billion in assets under management by CalPERS (ref. Current Investment Fund Values), $24 billion is invested in California. Apparently CalPERS would have us...

By Editor

Brown Begins Campaign for Tax Hikes

Brown Begins Campaign for Tax Hikes

California Governor Jerry Brown is annoyed at Republicans who have blocked his plan for massive tax hikes to balance the budget. In response, the governor plans to take his case straight to the voters. Please consider Brown Plans California Drive to Keep Taxes as New Cuts Loom California Governor Jerry Brown said he’ll propose a...

By Mike Shedlock

Union Power Destroys Working Families

Union Power Destroys Working Families

A great irony of American politics is that the agenda of the left, especially big labor, causes more economic harm than good to the average American worker. Explaining this irony is not easy, but a contributor to the Washington Times, Doug Ross, did a pretty good job yesterday in his guest column entitled “Union members...

By Editor