No, that just proves that Detroit Cops are grossly underpaid for what they are asked to do.
You can blame the union and Detroit's liberal leadership for that.
Is that what FOXNEWS told you? You lapped it up - there's still some on your chin.
How Wall Street — not pensioners — wrecked Detroit
While clueless elites continue to blame "reckless public pensions," a new report tells a very different story
In its
house editorial yesterday, USA Today retold the now-accepted story of Detroit’s bankruptcy. Railing on “reckless public pensions,” the newspaper told its readers that the Motor City is “Exhibit A for municipal irresponsibility” because it allegedly “negotiated generous pensions” that were too lavish. In this fable, the average Detroit pensioner’s
$19,000 a year stipend — which many get
in lieu of Social Security — is somehow defined not only as excessive, but also as the primary cause of the city’s financial problems. Detroit, thus, becomes a weapon in the larger
Plot Against Pensions, as the right holds it up as a cautionary tale supposedly showing that A) police officers, firefighters and sanitation workers are greedy and B) America cannot afford to fulfill negotiated agreements to pay public-sector workers a subsistence retirement benefit.
No doubt, there is a tiny grain of truth in this otherwise inaccurate story. Yes, it is true, Detroit
is a cautionary tale for governments about financial management and legacy costs. However, it is
not a cautionary tale about allegedly greedy employees living the MTV Cribs life off taxpayers. As an eye-opening new report from a former Goldman Sachs executive documents, it is instead yet another cautionary tale about Wall StreetÂ’s too-good-to-be-true schemes that end up being, well, too good to be true.
Commissioned by the think tank
Demos, the new
report out today from former investment banker
Wallace Turbeville shows that contrary to the myths about a bloated municipal government overspending on lavish social services, Detroit’s “overall expenses have declined over the last five years” by $419 million thanks to the city “laying off more than 2,350 workers, cutting worker pay, and reducing future healthcare and future benefit accruals for workers.” Today, Turbeville notes that “Detroit has a significantly smaller workforce per capita than comparable cities.”
Yet, those draconian cuts still left the city with an annual $198 million shortfall because of three big problems — none of which has anything to do with supposedly greedy public workers and their allegedly overly “generous” pension benefits.
*snip*
You can ignore the rest of the facts at the link.