Let the slashing begin!
Posted by accountingweb on
952
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Television news is rabid about the pitiful state of local government pension funds: http://nation.foxnews.com/pensions/2010/12/27/first-11-state-pension-funds-will-run-out-money [1]
http://www.nytimes.com/2010/12/23/business/23prichard.html?scp=2&sq=pension&st=cse [2]
And Governor Cuomo is taking action to stave off bankrupcy: http://www.nytimes.com/2011/01/03/nyregion/03cuomo.html?_r=1&hp [3]
And the State of Texas is finally admitting to its delima http://www.texastribune.org/texas-taxes/2011-budget-shortfall/ [4]
School districts are cutting staff: http://m.npr.org/news/front/132408943?singlePage=true [5]
Did government get too big and too comfortable? Probably. Is this painful? Heck yeah!