Apparently the Police and Firefighters Pension fund, yes another Bankrupt Pension Fund, cannot deliver on the promises made to retirees.
This is an old song. In fact, it seems to be the most successful path to Bankruptcy in the last 20 years. The Unions make promises to their workers regarding retirement benefits which, once must believe, they know can never be honored but will come crashing down after the Union Bosses are long gone from their $500k a year jobs. Simple.
In the case of Dallas it is a Democrat Mayor who must make a Bail-Out plea to a board of Republican ex-governors.
This is an opportunity to seize upon.
I would recommend the Board demand a full accounting regarding how this occurred. In other words, it’s not enough to state out loud “It’s Broken!”…. “Help!”.
What needs to happen is a complete unabridged step-by-step narrative, a concrete time-line, put on paper for all to see. Everyone needs to understand how a Municipality arrives at a place where it cannot fulfill its promises. The benefit of this would be Shame… but also so it can be referred back to time and time again by those who want to make such promises and then walk off the scene with their huge Salaries knowing they will never be held to account.
Names need to be named. Blame needs to be placed. Acts must be identified so they can be avoided in the future. The Taxpayers are always Forced to hand over their hard-earned money for such foolishness never really knowing why. Enough is Enough.
This is what has to happen when you’re dealing with Children… even if the Children you’re dealing with make half a mil a year to act like their out to protect and support our Police and Firefighters using the never veiled threat of casting dispersion upon anyone who has the maturity to balk at bad math.
I’m going to Drink until it happens…