“Job cuts needed to stop NY bankruptcy: mayor,” reports Breitbart.com
‘Sweeping layoffs of government employees are needed to prevent New York going bankrupt, Mayor Michael Bloomberg said Thursday.’
Bloomberg, who is in tense negotiations with municipal workers' unions, said an extra 7,000 jobs would have to go unless major reductions are made in employee benefits.
‘We cannot continue. Our pension costs and health care costs for our employees are going to bankrupt this city," he said in comments broadcast on NY1 television.
Bloomberg, running for a third mayoral term at the end of this year, said that proposals from unions so far were "nowhere near what is adequate."
TheFundamentals has been discussing the bubble machines at work in Congress, California, The Federal Reserve, Illinois, Department of the Treasury, New York and countless other government sponsored entities around the nation. Mayor Mike Bloomberg apparently is a bit late in finding it in his own backyard. TheFundamentals thought Mayor Mike was a pretty smart guy at least based on his business success. Could he also have feet of clay? Are we looking at another “Maestro” in the making? The Maestro was the label the media applied to former Fed Chairman Greenspan whose failures to regulate financial institutions and provide a stable dollar has resulted in some interesting bubble machine breakdowns around the globe.
Mayor Mike, who thinks that the Obama stimulus is ok because it's free money to support his own bubble machines, now thinks that New York cannot afford to support the labor costs and pensions and benefits for the employees he hired. Mayor Mike, did you just come to this realization? Where were you when the budget was being assembled? Where were you when previous labor contracts were being negotiated? Can you not see beyond your nostrils? Do you think that there is an endless supply of cash and debt available to pay excessive wages and benefits to non performing employees? Is every year better than the previous year? Is that how you ran your own business Mayor Mike? TheFundamentals doubts it.
So now what? Mayor Mike and his deficit spending friends in DC and Albany have been building houses of straw and sticks. The big bad wolf (read unable to borrow more money) has now shown up at the doorstep and is blowing on the whining mayors weak structures and the poor mayor is afraid the straw and stick houses are going to collapse (bankruptcy.) Well Mikey, here’s what the rest of us who have to balance our budgets and save and do without have to say to you and your gathering of spoiled, overpaid, underworked public servants, “Oh - boo - hoo - hoo.”
Buck up Mikey. The community organizer may print you some money.
1 comment:
The Major of New York changes his good business practices when he is using his money, but when he is using taxpayers' money he becomes totally irresponsible just like a politician.
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