It's not much, but the way that they did it...
"Pension boost OK'd for state workers; Patrick signals support; critics rail at huge cost" by Michael Levenson, Globe Staff | August 2, 2008
Massachusetts lawmakers, moving quickly and without debate in the final hours of the legislative session, approved a pension increase for state workers that could cost more than $3 billion over the next 20 years, sparking criticism from fiscal watchdogs who say the state cannot afford such a costly benefit.
That's the way they do everything here.
The bill, which was strongly backed by unions in the midst of an election year, would increase the annual cost-of-living adjustments by about $120 per year for retired teachers and state employees, helping them afford the spiraling cost of fuel and food, supporters say. But because the number of eligible retirees is so vast - about 100,000 would receive the benefit - the cost could reach $2.7 billion to $3.5 billion by 2026, according to the Massachusetts Taxpayers Foundation, a business-backed fiscal watchdog group.
I know it is only two bucks a year, which is why the state giveaways to Hollywood and corporations are that much more egregious -- and the paper seems to have no problem with those.
"There is no money to pay for this enhanced benefit, regardless of the merits," Michael J. Widmer, the foundation's president, said yesterday. "It's another example of the administration and the Legislature passing a benefit and simply passing the buck to a future taxpayer. . . . it's the height of irresponsibility."
That's the way they do everything here.
This pro-tax, pro-business guy gets in every article about state financing; does the Globe have him on retainer or what?
The initiative comes at a time when state leaders are struggling to find a way to fix dilapidated bridges, pay for the rising costs of the state's healthcare law, and provide property tax relief to cities and towns that have been forced to layoff workers and slash budgets.
Yes, I am well aware of those local woes....
The boost for state retirees also comes at a time when cost-of-living increases are almost unheard of for pensions in the private sector - and private pensions themselves are becoming, in some ways, a thing of the past.
Another sign of the destruction of the American middle class.
The super-rich and Wall Street always seem to come out smelling fine, though.
Governor Deval Patrick has signaled his support and said in a statement released yesterday: "At a time when fuel and energy costs are on the rise, even a limited increase will help retirees living on a fixed income."
Steve Poftak, research director at the Pioneer Institute, an independent nonpartisan research group, said he was troubled that legislators never had an open debate about whether the money would have been better spent on education or roads and bridges.
Yeah, the secrecy of one-party government here has shocked me.
"There's demand for spending on education and transportation infrastructure, and what they've said is, 'We're going to allocate this money for retirees,' " Poftak said. "I understand the impulse, but I don't think they've thought through the financial implications."
Thaaaaat's Massachusetts!!!!
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