Paying People Not to Work

John Hoover reports:

Michael Bloomberg wrote, in the December 18th edition of the New York Post, that the city has finally reached the point this year where it spends more on paying pensions and pensioners’ benefits than on the salaries and benefits of current employees. With more and more Boomers retiring each year, this disparity and imbalance is likely to keep tipping toward the working and taxpaying few supporting the retired many for 20 to 30 more years. Where’s the money going to come from to pay off the promises?

Just remember,when the Obama Administration is asked to bailout the cities this is what the money will be going:bloated pensions.Now you know why government workers are "politically" active.The pay out is quite good.