Who does O'Brien think he is? It would be one thing if the suggestion came from Sherwood, but since it only came from a nobody like O'Brien, nobody is going to take it serious.
Where did they concoct this $30m budget deficit? It has gone from $10.5m this year to $12m for next year then all of a sudden it becomes $30m???? Now the white night is going to ride in from nowhere and save us???? This whole situation was concocted by the fired finance director Mr.Doom and Gloom himself and these idiots cannot figure out how to get out of it! Reminds me of a movie I once saw titled "Dumb and Dumber"!
The Rhode Island legislature passed a pension overhaul bill late Thursday, angering public workers who called the reforms unfair.
The overhaul raises the retirement age for most state workers and schoolteachers, suspends annual cost-of-living increases for current retirees, and forces public workers to split their retirement funds between a guaranteed pension and a 401(k)-like account whose value depends on the strength of investments.
Rhode Island Gov. Lincoln Chafee, center, an independent, is expected to sign a pension overhaul bill that the state legislature passed on Thursday.
The controversial bill, which passed 57-15 in the state House and 34-2 in the Senate, is intended to save a pension system whose taxpayer costs would have doubled to $600 million in the next year without changes. Officials had feared that the state's inability to cover the cost of pensions that workers have already earned would result in a credit downgrade.
"The people of Rhode Island demanded we fix this problem, and tonight their government delivered," state Treasurer Gina Raimondo, a Democrat, said on Thursday.
At the CPOA meeting 04/29/12, Mayor Pro Tem Michael Trueworthy was asked one of the key questions of what the $30 million Structural Budget Deficit is- and where does it come from in the City's budget?
Trueworthy in his answer stated that the City's deficit is due, in part, to a self insurance fund that was underfunded and City's contractual obligations with the union's membership.
NOTE: Mayor O'Brien's proposed budget calls for up to 130 layoffs of city workers, a massive consolidation of City departments and no tax increase, as the City faces one of its most trying economic periods in its history.
Several Union Leaders have called for a "forensic audit" of the City's books going back some three years.
" STRUCTURAL BUDGET DEFICIT " is a virus - imbalance generated by a budget gap between revenue ($) and spending ($) fostered by some elected & appointed liberal & conservative public servants.
When a City has a looming budget crisis with deep imbalance between revenue & spending - the key to controlling Deficit is a two step process...
Who does O'Brien think he is? It would be one thing if the suggestion came from Sherwood, but since it only came from a nobody like O'Brien, nobody is going to take it serious.
ReplyDeleteCertainly whatever O'Brien wants takes a back seat to the Sherwood agenda!
ReplyDeleteWhere did they concoct this $30m budget deficit? It has gone from $10.5m this year to $12m for next year then all of a sudden it becomes $30m???? Now the white night is going to ride in from nowhere and save us???? This whole situation was concocted by the fired finance director Mr.Doom and Gloom himself and these idiots cannot figure out how to get out of it!
ReplyDeleteReminds me of a movie I once saw titled "Dumb and Dumber"!
Where's Prince D-Fronzo's saving plan? Really. It's coming. We all know it.
ReplyDeleteO'Brien who?
ReplyDeleteIsn't O'Brien the guy on Fox News?
ReplyDeleteComing soon to a public pension near you!
ReplyDeleteThe Rhode Island legislature passed a pension overhaul bill late Thursday, angering public workers who called the reforms unfair.
The overhaul raises the retirement age for most state workers and schoolteachers, suspends annual cost-of-living increases for current retirees, and forces public workers to split their retirement funds between a guaranteed pension and a 401(k)-like account whose value depends on the strength of investments.
Rhode Island Gov. Lincoln Chafee, center, an independent, is expected to sign a pension overhaul bill that the state legislature passed on Thursday.
The controversial bill, which passed 57-15 in the state House and 34-2 in the Senate, is intended to save a pension system whose taxpayer costs would have doubled to $600 million in the next year without changes. Officials had feared that the state's inability to cover the cost of pensions that workers have already earned would result in a credit downgrade.
"The people of Rhode Island demanded we fix this problem, and tonight their government delivered," state Treasurer Gina Raimondo, a Democrat, said on Thursday.
At the CPOA meeting 04/29/12, Mayor Pro Tem Michael Trueworthy was asked one of the key questions of what the $30 million Structural Budget Deficit is- and where does it come from in the City's budget?
ReplyDeleteTrueworthy in his answer stated that the City's deficit is due, in part, to a self insurance fund that was underfunded and City's contractual obligations with the union's membership.
NOTE: Mayor O'Brien's proposed budget calls for up to 130 layoffs of city workers, a massive consolidation of City departments and no tax increase, as the City faces one of its most trying economic periods in its history.
Several Union Leaders have called for a "forensic audit" of the City's books going back some three years.
" STRUCTURAL BUDGET DEFICIT " is a virus - imbalance generated by a budget gap between revenue ($) and spending ($) fostered by some elected & appointed liberal & conservative public servants.
ReplyDeleteWhen a City has a looming budget crisis with deep imbalance between revenue & spending - the key to controlling Deficit is a two step process...
1.- Control City's Spending.
2.- Raise Taxes & User Fees.
GOP Senators Introduce National 'Right-to-Work' Bill to Restrict Unions.
ReplyDeleteOUTLAWING UNIONS NATIONWIDE IS THE SOLUTION!