[quote=Allan from Fallbrook]
So, while the unions are making concessions, we arrive at the point of, are the concessions enough? [/quote]
This is why playing the game of “who is making concessions?” is a bit of a red herring.
An analogy: If a Fat Cat CEO is making $5 million a year and then reduces his pay to “only” $2.5 million because the company’s facing hard times… well, s/he’s still (way) overpaid.
Likewise, on an aggregate basis, if certain groups of public employees are still earning in excess of what the market would bear (including ALL benefits and amortized over their actual working lives) in the absence of union pressure applied to the political class… then even after making some modest “concessions” they still may be overpaid. My point is that the value of “concessions” is meaningless outside of the context of TOTAL compensation and its relation to what the market would bear absent the wielding of political pressure.
The Fat Cats make too much. Likewise, as a group, so do many public employees.
