Steven Malanga addresses New York City mayor Bloomberg's latest comments that public-employee pensions have become a ticking time bomb (something which the Manhattan Institute has been saying for years, by the way). How did costs skyrocket from $1 billion to $8 billion in the past decade? Control of the pension system is in the hands of the state -- so Albany's legislators keep handing out employee benefits because the city has to pay, not them. Watch what Steve had to say on Varney & Co. this morning.
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Copyright © 2013 Manhattan Institute for Policy Research, Inc. All rights reserved.
52 Vanderbilt Avenue, New York, N.Y. 10017
phone (212) 599-7000 / fax (212) 599-3494
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