Thursday, May 13, 2010

EU to Take More Fiscal Control - WSJ.com

CAN'T TEACH OLD DOGS NEW TRICKS: EU to Take More Fiscal Control - WSJ.com

A typical example of the problem can be seen in the US where a member of a public employee union feels "entitled" to raises (while his private sector neighbors and fellow citizens are unemployed) and early retirement benefits (say age 50 with fully indexed retirement salary increases and sometimes final bumps in benefits) while again, his private sector neighbors make less in salary, have to work to 65 or later, may have no pension (or just social security) and have to pay the property taxes to pay the union worker.

Things get out-of-hand, but the offenders seen nothing wrong with what they are doing to society and the officials who are in office often get their with the strong financial support of these very parties hurting the broader (if not their own) economy.

How does this get changed?

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