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PUBLIC EMPLOYEE UNIONS BANKRUPTING AMERICAPublic Employee Unions Bankrupting U.S. By Delwyn Lounsbury - THE DEFLATION GURU Public employee unions bankrupting America with their collective bargaining has led to high pay, pensions and health care benefits. It will make deflation and the Greater Depression we are in worse. On 3/9/2011, the Wisconsin GOP voted to end collective bargaining for all their public employee unions. All the Democrat legislators had moved out of state to prevent a vote on reducing state costs by laying off workers. The Republican Party is one vote short of passing the bill. Since the collective bargaining issue did not involve money, the vote did not need a quorum. It was approved 18 to 1. Our elected officials are playing "dirty pool" (again) just like the tactic the Democrats used in 2010 to force ObamaCare into law - the so-called "nuclear option." ObamaCare threatens to socialize 16 percent MORE of the American economy. Now we are learning $105 billion of startup money was surreptitiously authorized in the 2300 page bloated bill and has already been spent. The FIREWORKS are just getting started over cutting the cost of government at all levels. DE FUND BIG GOVERNMENT TYRANNY! The headlines about Governor Scott Walker's fight with these unions up in Madison, Wisconsin are just the tip of the iceberg. Just as most of an iceberg is underwater and not readily seen, states, counties, cities and municipalities are at the point where there is little money left to run them. And as revenue dwindles in deflation and the Greater Depression due to lower income, sales and property tax receipts, the future looks bleak. First off, there shouldn't be any public employee unions. Why does our country have to value bureaucratic government workers so highly that they get almost total protection from firings and layoffs and whatever pay and pension they may want? Remarkably, it was Wisconsin in the 1950's where progressive liberal activists first made inroads for public employee unions. Since then, both the Democrats (most union members vote Democrat and the Democrat Party get tons of union contributions) and the Republicans have let the socialism monster of big government grow to the detriment of the free market. Socialism is a big leech sucking money from an economy. In the private sector, this policy would kill the goose that laid the golden egg as the companies would just have to file for bankruptcy. The jobs and the employees' retirement plans would be history. Hardly anyone in the private sector gets defined benefit retirement plans anymore. There is a live and let live basis to free enterprise. Isn't there? Private sector unions want their company healthy and in business. Yes, we need to take care of our firefighters and policemen and many other positions like teachers require years of college. In states like California there are some 50,000 public employees getting $100,000 per year (plus cost of living adjustment) pensions. Many retired public employees make $150,000 to $200,000 plus health care. The new affluent elite! The city of Vallejo, California went bankrupt last year and now Jefferson County in Alabama is filing on it's $4 billion in debt. In San Diego, 70 percent of the payroll goes to retired workers. The Little Hoover Commission, a government oversight agency, concluded, "Pension costs will crush government. Government budgets are being cut while pension costs continue to rise and squeeze other government priorities." It's got to the point where teachers can hardly be fired for cause. It can take years, and during the process the teacher gets pay and benefits but isn't allowed to teach. Unions are designed to protect all their dues payers no matter what. Many schools have a 50 percent dropout rate and in Los Angeles it's 33 percent. Many are wishing private enterprise would come in and save education before it gets any worse. 82 percent of California Highway Patrol managers get extra for disabilities. Many public employees get three percent of the final years pay times the number of years worked. This can add up to 90 percent of the final years pay as long as they live. Unionization has become a monopoly feeding on taxpayers to the detriment of balanced budgets. We need to reduce the size of these pensions and the power of public employee unions bankrupting the system. Also we need to end collective bargaining and improve accountability of union members and union bosses. The deflation and Greater Depression started with the 2000 dot com stock market mania bust and will last until 2016 - 2018. At that time, asset values may be down 90 percent and unemployment may get to 30 percent. What is the cause? To much socialism leading to too big a government which let fiat money and fractional reserve banking morph into the biggest credit inflation of all times led by a monopoly cartel called the Federal Reserve Bank sponsored by the Anglo power elite banksters who want to control the world. The FED is not federal, not a bank, not audited, not controlled and no one knows who owns the stock in it, by the way. Deflation will absolutely de fund and grind government down. Pension and retirement plans investing in stocks, most bonds and real estate will be broke. But, how much freedom and liberty do we lose in the process? Credit inflations always crash with a hyperdeflation. Every time! Cash will be KING! I am for small government. Contract it out to the lowest bidder. Start reducing the size of government now, or we risk a worse depression leading to electing dictatorial leaders out of frustration. Think Hitler. Protect the Constitution for your children's sake. It's getting Obama hammered right now. PS If we don't get private money backed by gold, the whole runaway inflation repeats. Only gold is not someone’s debt! "As government expands - liberty contracts" by Ronald Reagan Copyright 2010 by Delwyn Lounsbury - THE DEFLATION GURU
Use of this article allowed with attribution back to: http://www.deflationeconomy.com
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