Thursday, May 27, 2010

Miami talking about Bankruptcy

City of Miami talking about bankruptcy. The reason?

"Increases in public worker salaries is one of the main reasons why the budget is so tight. The average salary for a Miami city employee is $76,000. The average salary for a Miami city resident is $29,000.

Employee pensions are choking the budget too. In 2000, pension payouts cost taxpayers $16 million. In 2009 that number spiked up to $70 million."

If Lake Worth does not solve the Union pension/benefits problem, look for very difficult times, higher taxes, lay-offs, reduction in services and higher fees for same.

No comments: