Cash-strapped RI city files for bankruptcy - Yahoo! Finance
Look at what is coming on a larger scale with our states and then the nation.
Some highlights. The city proposed to the retired city workers to take a 50% cut in their pension pay. Only 12 of the 141 agreed and of those 12 (9 would see no cut).
Since that proposal failed and now the city is in bankrupty guess what? Yup! All 141 pension checks are now going to be 50% less this month and moving onward will be even lower!
Sort of reminds me of the dog with 1 bone that sees another dog with a bone (he is staring at his own reflection) and barks at the 2nd dog only to drop is bone in the water and now the dog has 0 bones!
BTW this is the same city that a year ago fired all its teacher in the local high school (that made the news) since the school was in such bad shape (test score wise) but a year later all those fired teachers are back.
& the residents of that city are pointing the blame at their elected officials. Hum... you put them into those positions!
Look at what is coming on a larger scale with our states and then the nation.
Some highlights. The city proposed to the retired city workers to take a 50% cut in their pension pay. Only 12 of the 141 agreed and of those 12 (9 would see no cut).
Since that proposal failed and now the city is in bankrupty guess what? Yup! All 141 pension checks are now going to be 50% less this month and moving onward will be even lower!Sort of reminds me of the dog with 1 bone that sees another dog with a bone (he is staring at his own reflection) and barks at the 2nd dog only to drop is bone in the water and now the dog has 0 bones!
BTW this is the same city that a year ago fired all its teacher in the local high school (that made the news) since the school was in such bad shape (test score wise) but a year later all those fired teachers are back.
& the residents of that city are pointing the blame at their elected officials. Hum... you put them into those positions!
