The City of Tampa again faces a shortfall. It’s time to address pensions.
Tampa again faces a budget shortfall, and Mayor Pam Iorio says the city is running out of places to cut. But take a look at these two quotes from the story juxtaposed against each other:
Tampa officials are digging in for another year of tough financial decisions that - barring an unforeseen economic turnaround - will lead to more employee layoffs and a reduction of services in a city that increasingly is running out of places to cut.
Much of the projected shortfall can be attributed to increases in payroll and pension costs, she said, which have gone up despite layoffs and a wage freeze this year.
The city hasn’t run out of places to cut. It has run out of easier places to cut. The elephant in the room is being ignored: pensions. Government pensions are a [huge problem across the country](http://toledoblade.com/apps/pbcs.dll/article? AID=/20100223/OPINION02/2230317). Those of us in the private sector should be asking – loudly – why we have to continue to support these entitlement programs. How many people in your office have a pension?
Times are tough. Pensions are a thing of the past in much of the private sector. There is no reason struggling taxpayers should be forced to fund pension entitlements any longer.
Unfortunately, it takes fortitude to face the pension problem head-on. How deep does a budget crisis have to get before the problem is really dealt with?