15th November 2012
How does a city of 200,000 people go bankrupt? In the case of San Bernardino, CA, the answer is unsustainable pension obligations pushed by union-backed politicians.
Not that there’s anything wrong with that…
In 2009, patrol lieutenant Richard Taack retired at the age of 59, after 37 years of service. He took home $389,727 that year, including $194,820 in unused sick time and $33,721 for unused vacation time, according to city payroll records. Shortly after Taack retired – on an annual lifetime pension of $128,000 – he was hired part-time by Penman’s city attorney’s office, at $32 an hour.
Damn, I’m in the wrong line of work.