Paying People Not to Work

John Hoover reports:

AM New York recently featured a half-page ad for New York correctional officers. $78,000 salary after 5 years (plus guaranteed overtime), full benefits from day 1, 10 years in and you don’t even have to contribute to your own pension any more, and (guess what?) you can “retire in 20 years with 60% salary. People in their twenties will retire on 60% salary plus full benefits in their forties. All on your tax dollar. Same for cops, clerks, firefighters, maintenance and sanitation workers, you name it. Remember when a government job meant lousy pay?

there's more:

Michael Bloomberg wrote, in the December 18th edition of the New York Post, that the city has finally reached the point this year where it spends more on paying pensions and pensioners’ benefits than on the salaries and benefits of current employees. With more and more Boomers retiring each year, this disparity and imbalance is likely to keep tipping toward the working and taxpaying few supporting the retired many for 20 to 30 more years. Where’s the money going to come from to pay off the promises?