Tuesday, May 11, 2010

To Give and Die in L.A.

Los Angeles is going bankrupt thanks to its public employee unions. T
he city is chin-deep in California's trickle-down misery, and last week Richard Riordan, who was L.A. mayor from 1993 to 2001, coauthored with Alexander Rubalcava—an investment adviser—a Wall Street Journal column declaring the city's fiscal crisis "terminal." They say Villaraigosa should "face the fact" that "between now and 2014 the city will likely declare bankruptcy." Villaraigosa says that will not happen. But look what has happened.

For 15 years Villaraigosa was an organizer for the Service Employees International Union and the city's teachers' union. Now he is trying to cope with, and partially undo, largesse for unionized public employees: "I have to sign the checks on the front, not just the back."
It's called reaping what one sows.

1 Comments:

Blogger Dannytheman said...

The sadness in all this is that promise made by the city government can not be met. Peoples lives will be impacted after working for 35-40 years and losing many dollars in concessions as bankruptcy will pay them pennies on the dollar.

Same thing is happening in our own city of Harrisburg, PA

May 11, 2010 at 10:45 AM 

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