NY Public Pension Costs Set to Triple

It shouldn’t surprise anyone.  Public watchdog groups have been pointing this out for years.  I pointed it out when I ran for Comptroller in 2005.  I even saw Mayor Bloomberg mention it – once.  Public pension costs are probably the single most impotant item creating the structural deficits in New York’s state and local governments.  The simplest analysis showed it many years ago.  But our polticians are so grossly and criminally irresponsible that they’ve continued to pile up more and more costs even as late as last year.

This article in the NY Times online illustrates the problem – as if this is news.

“It’s alarming, eye-popping and unthinkable,” said Stephen J. Acquario, executive director of the New York State Association of Counties. “To manage that liability in the face of this deep decline in government revenues is going to be a challenge,” he said. “Where is this money going to come from?”

Where will the money come from?  Taxpayers – are you listening for the huge sucking sound?

Now – who’s up for government health insurance?

9 thoughts on “NY Public Pension Costs Set to Triple”

    1. Joe,

      Thanks for your post. But I followed the link your provided above and found nothing on pensions or taxes? Do you think Gerson and his supporters serve the public by ignoring the issue under discussion? Should we expect Gerson to change the subject when asked about critical finance and tax issues?

      What are his positions on public pensions and taxes?

      Ron

  1. ALAN J GERSON – the best choice for solving the prevailing issues like overcrowded schools, massive budget cuts, high unemployment rates, and unprecedented cuts to our social services.
    So on September 15th when you march to polling station please vote for the humble Alan J Gerson to continue his reform works for a cleaner, greener, safer New York City.
    http://www.gerson2009.com

    1. Sam,

      Thanks for beginning to address some issues unlike the previous responses. But if we don’t cut budgets how much do we expect the taxpayer to shoulder? City Council has refused to do anything to get spending under control and we are seeing the results in deficits and recesssion. What’s your plan for fiscal responsibility? What’s Gerson’s?

      Hey BTW do you know Alan who posted below? It’s funny he has exactly the same IP address as you. What an amazing coincidence?

      Ron

  2. Based on these responses I am beginning to think that Gerson’s supporters don’t really want to address issues of fiscal responsibility and instead they change the subject or address it superficially. I didn’t really know much about Gerson before but I’m glad these responses (which all came from the same two ip addresses) have highlighted what we can expect from a Gerson campaign. Instead of honestly addressing the issues we get non-responses and changing the subject. Classic politics.

    What we really need is to dump the entire City Council and the Mayor, PA and Comptroller and elect Libertarians who will cut taxes and spending repeal laws against personal choices and demilitarize the subways.

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