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Pensions, Midwestern Style

Detroit finally gets a break:

Rhodes — in a surprise decision this morning — also said he’ll allow pension cuts in Detroit’s bankruptcy. Rhodes emphasized that he won’t necessarily agree to pension cuts in the city’s final reorganization plan unless the entire plan is fair and equitable.

Illinois is considering its own pension reform plan, and the public sector unions are putting a full-court press on their Democrat clients to vote against it.  Unfortunately, the Republicans are being opportunistic in also opposing the deal, and that’s not making things any easier.  Still, the ruling may take some of the bite out of the unions’ threats to sue if the plan gets passed.  Even then, though, it may not be enough to get out of the way of the iceberg.

Posted in Politics.

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