What does Tulsa owe – in pensions $119 million. Yes, as pensions are threatening cities across America the polite term for this approaching disaster is called “unfunded liabilities.” See Detroit for more detail.
The report by Kevin Canfield in the Tulsa World today is mild and notes no reponsibility by city unions.
By way of context, the City of Tulsa must negotiate with seven different unions. This was made possible by President John F. Kennedy (JFK) who by executive order reversed a policy by President Franklin D. Roosevelt (FDR) thereby allowing unionization of public workers. FDR asserted unions by their nature are contrary to public service and a danger to the government. Both presidents were elected as Democrats – a sad side note at best.
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