State's budgets are in trouble because of the 8 trillion dollar housing bubble and shady banking practices, not because teachers, firefighters and policeman are being overpaid. Get real! Why should they be penalized?
You're one of 3 people in this country reading Dean Baker. You align with him because you believe in social justice and the "rich are evil, lets steal their money - they don't need it" philosophy. I understand why you like it - here's was he says:
Dean Baker - Economist said:
If members of Congress are too intimidated to do what is needed to fix the economy, then Wisconsin's legislators should do what common sense dictates: follow the money. Rather than taking pay and benefits from schoolteachers and firefighters, it makes sense to take money from the people who have it. This means taxing Wisconsin's wealthy and its corporations. The tax increase only needs to be temporary, since the state budget should be fine once the economy recovers.
It's all Alan Greenspans fault... :lamo
Here are facts for you instead of social justice rhetoric.
Entitlements:
Medicaid deficit: $150 million in 2011, $1.8 billion by 2013.
Walker's State of the State speech warns of tough cuts, but is light on details
Pension deficit:
The Manhattan Institute for Policy Research shows Wisconsin's pension system is funded at 72% or lower, causing a $8.6 billion dollar shortfall. (April 2010)
http://www.edchoice.org/CMSModules/...r-Pension-Plans-It-s-Worse-Than-You-Think.pdf
Public school expenditures by district for health care: (Note: The WEA and Unions nepotism is evident, as the Unions and WEA are clearly connected).
http://www.publicschoolspending.com/wp-content/uploads/2010/11/WEA-Trust-final-report.pdf
Debt:
Wisconsin has a total state debt of $17,971,519,547 when calculated by adding the total of outstanding debt, pension and OPEB UAAL’s, unemployment trust funds and the 2010 budget gap as of July 2010.[2]
Wisconsin state budget - Sunshine Review
School deficits have been growing:
Milwaukee Public Schools built up a $10.7 million deficit this year, with 93 schools going into debt this year. Milwaukee Public Schools racked up nearly $2.4 billion in long-term, non-pension obligations to retirees and their spouses, according to new figures released August 2010.[6]
Nineteen of the schools reported deficits of more then $200,000.[7]
Wisconsin school system - Sunshine Review
It's not the "eeevvvill" corporations, it's not Greenspan or any other patsy the progressive liberal economists want to tag in the blame game. It's irresponsible practices across the board - and Public Unions are one of the causes. If you want to go on about how this is all some housing bubble mishap, you're free to do so; however I invite you to join the rest of America in the real world.