Page 889 - Pensions News Today

Going to ten to cut services or bring down the cost of pensions. >> it would save the city billions over time but voters had to approve it first. that was hardly a slam dunk in a county that vot voted 70% for obama in 2008. reed pushed his case hard, demonizing city workers says firefighter robert s api en. >> trying to convince the public things were bad in the city because of employees. in some cases people have been accosted in grocery stores. >> from the firefighters and police officers pers...

That the government is still on the line to pay whos due? >> they make us an absolute promise to pay. full faith and credit is the term that is typically used. >> so they are on the line for it. >> if you give me your full faith and credit, are you on the line? >> of course. >> okay. >> last october, the council filed for bankruptcy, but the petition was rejected because thompson, the mayor, refused to sign t. now miller is running against her in next years primary. the attorney is done tending ...

Guidance of chapter 9. >> in other words, bankruptcy court. but public is sector unions are saying not so fast. they point to state precedence that suggests their pensions are are untouchable. however, morris, a former judge believes that in this unprecedented crisis the courts will allow cities to it modify at least some of their contracts. meanwhile, he is dealing with the day-to-day trials of a city gone belly up. >> now, you dont really have any credit. >> thats right. >> cash for things. >>...

>> in san bernardino, approximately 75% of the budget goes towards fire and police officers. they are not going to be able to pay those pensions. nor are they going to be able to pay the salaries they have been paying. >> we have historically in this city, been remarkably generous with our labor contracts. >> generous, indeed. in 2010, a san bernardino police sergeant made $317,000. in a city where the average household income is less than $40,000. but it is not just the top salaries that brough...

That agents are already bees disciplined and being threatened with the possibility of suspension, of losing their job and losing their pensions, if they enforce the law at all. everyone looking to be under 30, even if they pick they will up in jail they are reprimanded if doing that. this is a case where the i.c.e. agents have taken an oath to enforce the laws passed by congress but the trouble is, their boss, janet napolitano, and more ton, have issued orders in violation of the laws. so they a...

The school district are getting crushed by pensions of teachers that work 15, 20 years, stay in tenure and continue to get benefits. they cant keep up. no matter what happens if the spending doesnt go up substantially per student, theyre done. gawps but you are not going to say teachers that enter in a legitimate -- >> eric: here we go. talk to chris christie about that, he is making it happen in new jersey. >> greg: kids are finally learning something in class. how to spread the wealth. theyre ...

Democratic party looks a lot different. >> mike, you would agree, would you not, that democrats mainly, but also republican governors, have struck deals with public unions. >> oh. >> and then given them outrageous pensions. i say outrageous, not outrageous compared to what ceos get or -- but they have made deals that they know state governments especially cant afford. >> its a huge conflict. >> by the way, a strike again, not outrageous, that -- not outrageous pensions, not outrageous retirement...

>> andrea: think about to dan ab point what the schools have gotten themselves in to. its not their rule to provide generous or lavish benefit package or their job to -- they are focused on nutrition. is there assails bar in the school. i -- salad bar in the school. we had tissues and paper towels. some of the kids have to buy tissue and paper towels. basic supplies when all we had to worry about in the day was remember the smelly marker, mr. sketch? i used to sit and sniff them in class. maybe ...

♪ ♪ ♪ >> juan: i thought theyd play rod stewart. i like rod stewart. "late september and i really should be back." welcome back to "the five." time for back-to-school shopping and national survey estimates it costs $683 per child. back to school supplies. if that seems steep, maybe because teachers are asking parents buy basic supplies for the classroom. budgets are tight. they also want parents to subsidize supplies for other students. dana, is this money well spent? >> dana: its money th...

The school district are getting crushed by pensions of teachers that work 15, 20 years, stay in tenure and continue to get benefits. they cant keep up. no matter what happens if the spending doesnt go up substantially per student, theyre done. gawps but you are not going to say teachers that enter in a legitimate -- >> eric: here we go. talk to chris christie about that, he is making it happen in new jersey. >> greg: kids are finally learning something in class. how to spread the wealth. theyre ...