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Comments about ‘Unions, pensions drove Stockton, California to bankruptcy’

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Published: Friday, June 29 2012 10:59 a.m. MDT

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samhill
Salt Lake City, UT

“Union pensions wrecked Stockton,” said Mike Shedlock, investment advisor at Sitka Pacific Capital, in his article at Business Insider. “The only way to escape the death-grip of inane pension promises is bankruptcy.”

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They did it to GM and Chrysler. They did it to the U.S. Postal Service. They're doing it in practically every other city, state and the country as a whole, not to mention the entire European block.

Unions at every level and of every sort have continued to grasp for every conceivable pay raise, benefit accommodation, job padding agreement that one could imagine, to the point where the deficit-running budgets and the debts they produced are simply no longer ignorable.

The root problem with both the unions and the governments and/or company management structures has been the same and can be identified with one word...dishonesty.

No honest person can look at the irresponsible budgets and actions of these entities, public and private, and --honestly-- say this disaster was not foreseeable many years ago.

Hawkyo
SYRACUSE, UT

Union pensions wrecked Stockton. WELL DUH! Entitlements enable laziness. Politicians should have their pensions revoked. No one should get fat off of the taxpayer after their term of service is over! The true fat cats are the politicians, and their low-life entourage.

ret.navymom
Monroe, UT

Isn't this what the recall of the governor of Wisconsin was all about? Hope other state and city governments follow his example.

RichardB
Murray, UT

You might want to include over growth.

"Legal and illegal immigration overwhelmed Stockton. As of the 2010 Census, Stockton is 40 percent Hispanic and 22 percent Asian, mostly from Southeastern Asia. Immigration fueled Stockton’s population growth, an unsustainable 20 percent in the last decade. As a result, the city had to hire more police and firemen as well as provide an abundance of social services to its new arrivals, most of them poor, some destitute. Eventually, the need for additional law enforcement, fire protection and welfare outstripped Stockton’s ability to pay for it."

Rapid growth, then the housing bust just was the final nail.

Longtime Stockton resident.

Riverton Cougar
Riverton, UT

Meanwhile the Democrats in Washington, D.C turn a blind eye as they continue to ignore outrageous deficits and fail to pass a budget for our country.

Hemlock
Salt Lake City, UT

Spending other peoples' money seems to come easy for politicians from the White House on down. Too bad Stockton can't print money or borrow from the Chinese like they do in D.C.

RichardB
Murray, UT

Now Mammoth lakes CA. going under, No union, no pensions to blame, just bad business decisions.

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