I complain about a lot of things, but this article touches on at least two:
1. Inaccurate and misleading "news." Well, Yahoo! stuff shouldn't really be considered "news," but it is presented that way and I wonder about the people who read the first article, before the corrections. This was evidently lifted from Reuters.
2. Detroit. I guess I should narrow it down to what exactly I complain about in Detroit, but there are so many topics of concern. This article is about union pensions, the administration of those pensions over a long period and the "13th check."
Read it yourself, but the whole business is so symbolic of the decay and institutionalized feeding-at-the-trough mentality that has become something that people think they deserve. Not that they earned it, but they just deserve it.
The pension has a $3.5 billion unfunded liability. While the number is being challenged, I don't think anyone believes it is a lot smaller, yet the unions want to continue a practice of paying a "bonus" to retirees based on investment returns above a certain figure. That practice cost the pension funds $1.92 billion from 1985 to 2008. What if that $1.92 billion had been left to invest and reinvest? Wouldn't that have put a pretty big dent into the $3.5 billion unfunded liability?
When you practice Coleman Young's "tin-cup urbanism" philosophy, however, you expect that if you can finagle something like this now, the Federal government will come to your rescue at a later date. His rationale was always that the problem was caused by racism, so that is why Detroit's fiscal problems were the responsibility of the rest of the nation.
Meanwhile, grab all you can get right now.