another large city with financial issues/preview

Discussion in 'Too Hot for Swamp Gas' started by GatorFanCF, Aug 14, 2013.

  1. GatorFanCF
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    GatorFanCF Premium Member

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    http://www.cnn.com/2013/08/14/us/pennsylvania-philadelphia-schools/index.html?c=us

    The key comment here is where one official wants the sales tax revenue to go toward the current school operation and another wants to make sure the pensions are shored up. IMO, this is a preview of coming attractions: do we pay our promise to"Joe" or do we continue to provide normal services or do we default and start from scratch or do we get bailed out by the Feds. .. or combo thereof?
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  2. gatornana
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    This is the rest of the comment:

    Tough question....shore up pensions or go bankrupt.

    Makes one wonder about priorities.....devastating cuts to education, social and medical services while providing tax cuts or elimination of taxes on big business and industry. Under that sort of policy, it doesn't make sense to blame pensioners or school children.



    http://www.wsws.org/en/articles/2011/03/penn-m12.html
  3. G8trGr8t
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    G8trGr8t Premium Member

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    it is what I have heard called the ultimate liberal dilemma.

    they ran out of other people's money and now they must choose between their own.
    they have to choose between granny's alheizmer clinic / kids sports at school or watching a certain class of retired muni employees buy second homes in the mountains to visit every other week while you are getting up and going to work everyday.

    somehow/someway they will seek a way to use more of somebody else's money. at least Detroit has an art collection to hawk.

    somewhat analogous to labor unions voting to cut officers/police or cut pay. it always seems to come to cutting people.

    Pa is behind because they did not allow fracking so drillers went and built infrastructure elsewhere that still has capacity. Those fields are proven and have access to plants and pipelines. If Pa wants drillers to move into PA and build all that at these gas prices they have to do something to try and catch up. I suspect that leaseholders will capture a % of whatever Pa doesn't tax
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  4. gatornana
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    It'll be "somebody else's money" (taxpayers) who'll pay one day for the damage caused by drilling and fracking.....socialize the risk and damage, privatize the profit.
  5. G8trGr8t
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    don't worry, there will be plenty of very well compensated government employees responsible for all inspections to make sure everything is done correctly.
  6. LittleBlueLW
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    LittleBlueLW Premium Member

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    So are you really for complete socialism? Sure reads that way.
  7. gatornana
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    That just may not be the case......read a while back in regards to natural gas fracking in PA that the state laid off many of the inspectors so that new, potential inspectors friendly to the industry could be trained at Penn State in a new program bought and paid for by the gas industry.

    Corbett is brazen in his loyalty to the natural gas industry over the citizens of PA who he's suppose to represent.
  8. sappanama
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    didnt you mean shore up pensions AND go bankrupt. who other than state pensioned retirees plan to have the same, or greater, income after retirement? people want to retire at 50, fine with me, and i'm ok with a pension that covers basic living expenses, but that isn't what is expected by many of these pensioners.

    no its not, adults need to be adult about it, take care of the kids and normal services or the problems will be exponentially worse later. pensions are unreasonable in many cases and we need to deal with it, my great grandmother said if it seems to good to be true, it probably is, yet for decades many have prayed it was really possible to make their salary or better in retirement thanks to gubmint promises and pensions.

    my mom taught 30 + years in florida and gets not quite 2.5k / month, why should a policeman or fireman get their salary and a civilian job often doubling their income after "retirement", i have a family member retired from tpd with 80% pension based off highest earning (lots if overtime last 2 years) and has now been rehired to do same job as civilian, better than doubling his previous best years salary at 52 yo. how do we keep this up?
  9. LittleBlueLW
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    http://www.huffingtonpost.com/2013/07/19/pennsylvania-fracking-study_n_3622512.html
  10. gatornana
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    http://www.huffingtonpost.com/steve-horn/exclusive-censored-epa-pa_b_3708904.html
  11. fubar1
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    Social Security is already progressive meaning top earners don't get near what they paid in. But it should be means tested....and so should govt pensions.

    If a government pensioner decides to work in retirement and makes above a certain amount of money, his pension should be reduced accordingly. And especially if he takes another govt job. It should be reduced to $0 until he leaves the govt payroll completely.

    The whole idea of a pension is to SUPPLEMENT retirement income. To provide a cushion...a start towards meeting expenses. Akin to SS, it is not intended to be the sole source of income.

    If it is, it's poor planning on the part of retirees...plain and simple.
  12. wargunfan
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    Philadelphia has been run by the Democrats for the last sixty years. As usual they are running out of other peoples money and running the city into the ground. The marriage between Democrat politicians and public employee unions is a recipe for disaster. Which Democrat city will be next?
  13. LittleBlueLW
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  14. vangator1
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    The answer is bankrupt.

    The scoops are coming.
  15. gatordowneast
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    We can't get people to work in Philly as if the client has an office in city limits, they get taxed an additional 5% (approximate). So only if they can home office or if client has offices in the burbs. Philly is another liberal bastion of graft/corruption and theft.

    Another candidate for state takeover.
  16. G8trGr8t
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    they laid off inspectors because it was illegal to frac there so there was no inspection work being done. no worries, maybe they can hire the taxpayers paid to make sure BP was doing everything right. obviously they did a great job because their culpability and responsibility is rarely if ever mentioned.
  17. RealGatorFan
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    I live in Birmingham and the Hoover school board decided to axe school busing for the 2014 school year and use the money for more teachers. The issue is they decided that the $2.5 Million shortfall can't be made up elsewhere. Yet, Berry Middle School just received funds of $3 Million for a new artificial turf field. A middle school. The school system also is using funds to outfit every student with iPads.

    It's very interesting that the liberal infrastructure is falling apart. Liberal pensions. Schools. Welfare. Obamacare. Medicare. Take these things away and give the money back to the people and maybe we wouldn't be in this mess. Yet, we spend more on education than every country on this planet.
  18. gtr2x
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    Same was said about drilling in the gulf. Lot of regulation, lot of inspectors, yet....
  19. gatordowneast
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    I would add that these pensions should not be paid out until one reaches typical retirement age. Some cities have employees collecting pensions after 20-25 years of service and they are in their 40s with an expected life span of 30-40 more years.
  20. gatordowneast
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    Whoops...another city that could have major pension issues....NYC. The unions are in the 4 corners as they do not want to deal with Bloomberg, the business man. They'd rather take their chances with Weiner the flasher.

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