Unions must adjust to pension reality
11/09/2013 12:00 AM
11/09/2013 4:43 PM
The Bee’s Nov. 5 editorial on public sector pension costs is a gentle nudge in the right direction.
Unions represent only 11 percent of America’s workers. The government employs only 5.5 percent of those employed, according to the Bureau of Labor Statistics. The financial implosion in the public sector is due in large part to the accommodations made to the small minority represented by unions.
These accommodations were the product of the perverted relationship between our elected representatives and unions. Union support put politicians in power who in return made decisions that inappropriately and disproportionately favored unions.
A good example of this is the financially irresponsible and unsustainable defined-benefit pension. This system cannot be saved by modification. In order to save our nation from bankruptcy, it must be scrapped and replaced with a contributory program in parity with private enterprise.
Union leaders have no choice but to adjust to the financial reality that the golden goose is on life support and can no longer support them.
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