Friday, February 25, 2011

State Death Spiral

Many of Michigan's local governments have made retirement promises to their employees that they probably can't keep. A new study from the Citizens Research Council of Michigan finds that counties, municipalities and schools have built up huge retiree health care liabilities, most of which are unfunded. Dealing with these costs can no longer be avoided or postponed.


From The Detroit News: http://detnews.com/article/20110225/OPINION01/102250330/Editorial--Public-retiree-health-costs-must-be-confronted#ixzz1EzFwpGUZ

Why do folks continue to pen lines like that?  It can be avoided and postponed, and it will be; that is a fact.  The truth is, the damage that is being done to both parties, the citizenry and their employees, will worsen as the politicians play the Darwinian chicken that is part and parcel of being a politician.  But that won't stop them from avoiding and postponing the costs.

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