Local reporter Mike Deeson has a long history of exposing Govenrment waste. He found another example on the Sun Beam Times and featured the story of the $177 million unfunded liability for retired government workers in St. Petersburg last night (story 1 & story2). Government workers receive up to 75% of the cost of their health insurance from the hard working taxpayers – for life!
Basically this is a wealth redistribution from the poor and hard working taxpayers to a well connected political class.
Seems like it is time for the citizens to demand that local city leaders stop caring more about the financial health of government workers than they do for the taxpayers. It is time for the political class to come back down to earth and have the same benefits as the rest of us.
This need not mean sacrificing the important protections Police officers and Firefighters have in their retirement. We must restructure such benefits so that these valuable public servants OWN their own health savings accounts and prension plans. Then they need not rely on empty promises from politicians and stock markets that are controlled by corrupt folks like John Corzine and inflated by the Federal Reserve printing of fiat currency.
The political class should not have a better deal than those who pay the tab.