SPEAKING OF THE PUBLIC PENSION CRISIS: NY Suicide Caucus Votes Down Cuomo Pension Reform.
If you needed more proof that arithmetic-deficient politicians and dysfunctional government are largely to blame for the disastrous state of New York’s finances, Albany Democrats have just supplied it.
New York’s Assembly Democrats have voted down Governor Cuomo’s pension reform plan, hammering yet another nail into the state’s financial coffin. The Assembly refused Cuomo’s suggestion to raise the retirement age from 62 to 65 even though the governor stressed that his plan would save hundreds of billions of dollars in costs toward a pension plan expected to consume 35 percent of the government’s budget by 2015. In 2001, it was 3 percent.
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