"In Detroit, the policies of candidates who posed as “friends of the unions” have now brought enormous pain and fiscal woe to the very pensioners who trusted them. Killing the goose that laid the golden egg is not being a friend—it’s madness.
New York cannot afford the pensions and benefits of a half-century ago, when people lived shorter lives and health care costs were more manageable.
Paul Krugman on Detroit
in Economics
Posted · Edited by SDE13579
http://observer.com/2013/07/editorial-lessons-from-detroit/