The state [of Ohio] has asked workers in its largest labor union to accept a 5 percent across-the-board pay cut, a shorter work week and unpaid holidays to help balance the state's troubled budget, according to a document obtained by The Plain Dealer.
The list of cuts and changes Gov. Ted Strickland's administration has asked the workers to accept, which also includes mandatory furloughs and paying more for their health insurance, would amount to $250 million in concessions, according to a members-only e-mail from Ohio Civil Service Employees Association president Eddie L. Parks.
Bottom line. More and more states are in trouble: OH, CA, NJ, MI, MA, ...and the list grows. Will the government have to bail out the states, practically controlling the budget of the Union?
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Editor, The Peter Dag Portfolio
Since 1977
1 comment:
George, How can our government print $1.5 trillion dollars (and it's gonna way more after they bail out the states) and our currency actually appreciates 15-20% against the other world currencies? Isn't our dollar heading to nothing? Where is the safe haven? gold? oil? other currencies? There has to be a sure play given all the money they are printing. It almost seems like a make believe game.
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