The pension crisis WILL crowd out other services

Tuesday evening, Jim Waters of the Bluegrass Institute appeared on cn|2’s Pure Politics to discuss the commonwealth’s pension system crisis. Watch the discussion below. One of the take-away points is that if steps are not taken to deal with this pension mess, other services provided by the government will be crowded out of funding. We…

Jim Waters discusses pension reform tonight on cn|2 Pure Politics

Bluegrass Institute president Jim Waters will appear on cn|2’s Pure Politics with Ryan Alessi to discuss the shape of Kentucky’s public pension system. This comes on the heels of the recently released Future Shock: Kentucky Politicians’ Opulent Pensions Have Become a Modern Day Gold Rush which outlines how Kentucky’s elected representatives have legislated themselves into…

Forget history, repeat history

How many businesses would borrow money to meet pension obligations? Yet this approach appears attractive to Kentucky politicians looking to do anything but make the tough choices regarding Kentucky’s $34 billion unfunded pension liability. I’ve heard no one from the many groups testifying on this issue — including the Kentucky Chamber of Commerce or the…

Prefiled bills seek to end legislator pensions

In a recent press release, state representative David Floyd, R-Bardstown made it known that he has prefiled legislation for the 2013 General Assembly session that would end the practice of bestowing lucrative public pension benefits to Kentucky’s part-time legislators. That is certainly one way to attack the state’s egregious unfunded public pension liability. The proposed…

High pay + poor performance = rejected contract

Question: What happens Brownsville, PA when the highest paid teachers in the state have some of the poorest performing schools? Answer: The school board flatly rejects the teachers’ union’s new contract proposal. From EAGnews.org: Brownsville Area School Board director Nena Kaminsky recently made headlines when she convinced her colleagues to reject a proposed teachers union contact, and told…