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Miami cutting pensions, salaries for current employees

8/31/2010 2:28:22 PM by Christine Erickson

The city of Miami, Florida is declaring a state of "financial urgency," which gives city commissioners the ability to cut the salaries and pensions of government employees despite their being under union contracts. The mayor of Miami said that the only other option would be to cut 1,000 jobs or raise taxes. The president of the general services employee union said that the move will result in a mass exodus of government employees, costing the city years of experience and expertise. But considering the facts surrounding city employee salaries and benefits, the chances of them leaving because of a pay cut are highly unlikely.

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Public Sector Pensions: One of the Greatest Ponzi Schemes of all Times

8/24/2010 4:44:51 PM by Donna Parrey

While governors throughout our nation wring their hands over budget deficits, there is one fiscal adjustment that has been routinely ignored … the re-thinking of over-generous public pension plans whose unfunded liabilities present an ever-increasing stumbling block to financial stability. Yet tackling this one issue can begin the important reform work that will have a substantial impact on tomorrow’s taxpayers – our children and grandchildren.

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Unions: the new political powerhouse

8/20/2010 4:45:22 PM by Jo-Lynn Brown

Great stories always have a hero and a villain. In this political narrative we have two characters, corporations and unions. Can you guess the villain?

Your answer to this question may be very different depending on your political ideology, your past professional experience or the letter that appears on your voter’s ID card. Yet, upon closer examination these two characters are quite identical, the only difference is that one earns profits through the selling of goods, which creates tax dollars, and one represents 16.9 million people, half of whom are public servants and rely on taxes for their wages and health benefits.

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Welfare gambling: What are the odds it’s happening in your state?

8/17/2010 9:44:24 AM by Noah van den Berg

The next time you enter a casino and hear the clink-clink-clink of the coins pouring out of a lucky slot machine, check your wallet. As a taxpayer, there’s a chance that the money used to hit that jackpot was yours. There are numerous states where welfare cards are being used in casinos and even strip clubs. The most insulting part is that there are very few programs in place to prevent this indirect siphoning of your tax dollars into the overflowing coffers of a casino or strip club, and some states have no interest in even attempting to prevent it.

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FEN Latest

Below are the most recent entries into our research database.

Gov. Quinn accuses challenger Brady of plan to lower min wage
Friday, September 3, 2010

The race for a new governor of Illinois is heating up and the accusations concerning minimum wage are flying.
 Read More...

Private sector adds 67,000 jobs in August; unemployment rate up to 9.6%
Friday, September 3, 2010

The Labor Department reported that the U.S. lost jobs again in August for the third straight month, while the unemployment rate increased from 9.5% to 9.6%. Read More...

Nebraska debates transparency versus confidentiality
Friday, September 3, 2010

The importance of government transparency versus privacy is up for debate in Nebraska.
 Read More...

Public sector is bypassing private sector in NY state
Friday, September 3, 2010

When it comes to New York state, the private sector is suffering, as it lost 247,900 jobs since 2008. Read More...

Chicago’s Mayor Daley merges various city departments
Friday, September 3, 2010

Mayor Daley of Chicago has announced plans to merge several departments to trim expenses and streamline agencies.
 Read More...

Employees paying more for healthcare
Thursday, September 2, 2010

Private sector employees with employer-sponsored healthcare plans are covering a higher percentage of their premiums, according to a new report from the Kaiser Family Foundation and the Health Research & Educational Trust. Read More...

White House contemplates more corporate tax cuts
Thursday, September 2, 2010

The White House is considering various corporate tax breaks to help spur hiring, possibly including a temporary payroll-tax holiday and a permanent extension of the research and development tax credit.  Read More...

NY lowering rate of return for its public pension plan
Thursday, September 2, 2010

New York State Comptroller Thomas DiNapoli announced that the projected rate of return for the New York State Common Retirement Fund will be dropped from 8% to 7.5%. Read More...

USPS opens talks with two major employee unions
Thursday, September 2, 2010

With the current four-year contract set to expire, the United States Postal Service (USPS) opened talks with the largest postal employee unions, the American Postal Workers Union, and is looking for concessions on salaries, health benefits and working conditions. Read More...

US debt approaching critical level, according to the IMF
Thursday, September 2, 2010

The International Monetary Fund (IMF) released several new papers warning of the risks of escalating debt in many advanced economies, including the United States. Read More...

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