Tuesday, August 9, 2011

I Love LA: Bankruptcy as Tough Love

Who in their right (or left) mind proposed the nonsensical idea of continuing to pay workers long after they retired?

Who decided that future generations municipality should have to foot the ever-expanding pensions rolls which are crushing today's taxpayers and youth?

Unions strong-armed politicians only looking as far as the next election

Today's City Council, along with city governments across the country, now have to weigh ugly alternatives to solving the budget crunch imposed by these obligations.

One messy alternative would have the city declare bankruptcy. A Bankruptcy judge would allow the city to shred it current unsustainable contract with the public employee unions. Those unconscionable agreements were forced upon the unwitting taxpayers long ago by previous politicians with enough foresight for their next election, but not for the long-term fiscal integrity of the city itself.

There is nothing unethical or immoral in permitting a municipal government to undo outrageous promises which future wage earners had no say in negotiating. Not only is the era of Big Government coming to and end, but the domination of public employees preying on unsuspecting tax payers and craven politicians is also being swept away in a resurgence of civic activism and fiscal necessity.

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