What happens when you let Dems make financial decisions. Next up ... Chicago.
http://www.nytimes.com/2014/11/08/us/detroit-bankruptcy-plan-ruling.html?_r=0
Retired general municipal workers agreed to 4.5 percent cuts to their monthly pension checks, an end to cost-of-living increases, higher health care costs and a mandatory forfeiture of previous payments from the pension system that were deemed improper.
So those "guaranteed" pensions aren't so guaranteed after all.
http://www.nytimes.com/2014/11/08/us/detroit-bankruptcy-plan-ruling.html?_r=0
Retired general municipal workers agreed to 4.5 percent cuts to their monthly pension checks, an end to cost-of-living increases, higher health care costs and a mandatory forfeiture of previous payments from the pension system that were deemed improper.
So those "guaranteed" pensions aren't so guaranteed after all.