hires. in to a 401(k). they do need it in places like san diego and alaska. utah is doing reform. so is washington, d.c., we can also unfortunately, you can cut unfunded healthcare benefits. so they can be cut without going to court. that is already happening in stockton and vallejo. the irony here is that already health reform may be taking care of this problem. health reform is starring to weigh whether to hire new workers or cut back on the city services. that is bottom line. do you cut back on the government services like police and firemen or do you reform the pension? david: is a byna, emac mentioned the private sector is doing reforms in their own pension programs. but if they try to do that in the public sector we ll see strikes everywhere. we ll see the public sector unions trying to shut down the cities. there might be but the other side of the story is the american taxpayers, they should haven t to shoulder the bill for unreasonable compensation packages. what liz and st
that are in severe financial trouble. you are talking about my hometown of chicago. talking about a lot of cities in california, cities like oakland, san bernardino that are very severe problems. the trouble is exactly the same. they have incredible pension programs that they can t pay for. that means they have to cut fire service and police service and schools. that is the big problem. by the way, i think bankruptcy not a bad option here for cities like detroit. it s way for them to hit the restart button and start over again. i m actually optimistic about american cities if they can start over, get rid of these huge debts. many people are moving back to cities like chicago and so on if they can get those debts under control. really what you are saying, when government is bailing out companies, bankruptcy is way to revive an institution.
years later under carter with the extension. the investment in that city lead to jobs being built. more businesses that came into the city, into midtown manhattan again. more condos being built, rented and sold. i m so sick of liberals throwing around the term investment and not understanding what that means. detroit for 50 years tried to invest in their education system and now 47% of adults are functionally illiterate. stop tosses around the world investment as if it s something you throw money at. yes other cities invested but they also looked at their pension programs and brought in new capitalist ideas and new companies and invested in new innovation and they haven t been slaves to unions like the city of detroit has. it s important moving forward, it better be willing to open up their markets to new ideas. thank you for being here. i wore a dark, dark blue jacket for the reasons that leslie mentioned.
years later under carter with the extension. the investment in that city lead to jobs being built. more businesses that came into the city, into midtown manhattan again. more condos being built, rented and sold. i m so sick of liberals throwing around the term investment and not understanding what that means. detroit for 50 years tried to invest in their education system and now 47% of adults are functionally illiterate. stop tosses around the world investment as if it s something you throw money at. yes other cities invested but they also looked at their pension programs and brought in new capitalist ideas and new companies and invested in new innovation and they haven t been slaves to unions like the city of detroit has. it s important moving forward, it better be willing to open up their markets to new ideas. thank you for being here. i wore a dark, dark blue jacket for the reasons that leslie mentioned. thanks. coming up next, live to
pensions they might have in other communities? other communities in california? probably not. but other communities, other parts of the country, definitely. and we, you know, greta, we have some of the most generous pensions in the country here in california. if there s no way to sort of renegotiate these pension programs and are these pensions just untouchable? that s what s going on right now in court. and the bond holder will lose a lot of money in the bankruptcy and they re the creditors now and won t get paid everything they re owed are saying well, the city should actually stop paying the tension obligationses that will put less money for the pension funds and not pay off obligationses and cut some of the pensions of current workers and the city is saying it can t do that and it s contractually obligated to pay these pensions and that s the big issue that will it it has not really been decided today and it will be battled in the courts. i m rusty on this and not