NYS Comptroller Tom DiNapoli will be the deliveryman of bad news for years to come as the cost of sustaining the state's pension largesse goes up and up.
Now there is speculation the "sheriff of Wall Street" Eliot Spitzer will challenge Mr. DiNapoli for the Democratic nomination for Comptroller next year.
New Yorkers will see what the Comptroller does with Governor Cuomo's "pension smoothing" proposal designed to allow local governments a fixed cost for the retirement program.
As sole trustee of the retirement system, the Comptroller is politically vulnerable for its high cost which is the result of decades of pension sweeteners and legalized gaming of the system.
It’s DiNapoli vs. taxpayers on pension costs - NY Daily News
6 comments:
The pension mess is the result of decades of not funding them at the time the worker was "earning" them. Only a democrat could make the math work to say it "saves money" to offer early retirements to teachers. But that's what they did. Let the kids pay them.
Let's not forget the years when the employees had to pay but the Municipality had the option, Pataki was to blame for this, and the retiring firefighters from 9/11.
I'm no fan of DiNapoli at all. Had some dealings with that schmuck when he was on the EnCon committee. But Spizter? You gotta be kidding. As much as I dislike DiNapoli, he is ten times a better man for the comptroller job than Spitzer would be. But I have no doubts N.Y. voters would be stupid enough to elect Spitzer once again.
(a) NYS is #2 in the country for the number of gov't employees.
(b) Molyneux claims (said he ran the numbers twice because he couldn't believe it) NYS has more people receiving welfare payments than the total number of employed. Remember, the "number of employed" includes the state employees.
Such burdens on the the ever-shrinking wealth-producing sector of society is flat-out unsustainable.
I predict NY (& CA) will play the "too big to fail" card & have expectations of being Federally bailed-out one day.
Spitzer is what we need in there. He can decide whether to use our money to invest in politically correct arenas, or, buy whores. Either way the working people lose out. I love this state. But this is what you get when one party controls all. Let's give Eliot a chance. He cool. It'll be fun to watch his wife stand by her man when he comes home wearing someone else's socks.
One party running it all is bad....Ding dong you got it.
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