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Reader says , “time is money and money is finding other places to live”

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Go west (or south) young families as leaving Ridgewood is sad but apparently, financially prudent. State and local governments have little leeway to manage their budgets given their contractual salary, healthcare and pension obligations. Population trends, prevailing taxes, and budget stress are tell tale signs that our Village and State’s financial problems are not revenue but expense related. Decades long deficits and massive unfunded pension obligations are proof that state and local fiscal strategies are out of sync.

Unlike the private sector, government wage and benefit payouts are not flexible. They increase with the passage of time. We in the Village have been served this sandwich for years and now people are moving faster to greener pastures that offer a different menu. With that said, it is encouraging that some of our state level elected officials recognize our financial crisis for what it is, as a spending problem. It would be nice to hear that locally…Our only hope is that the same political and perhaps certain union leaders will act bravely to modify current arrangements that mitigate growing budget deficits. In this matter, all interests are aligned.

Real and sustainable fiscal management is difficult to implement. It takes compromise and commitment but the resulting policy changes are not hard to understand. Some are obvious such as i) 401Ks for new hires versus a pension, ii) altering timing on pension payouts, iii) means based health care programs versus the gold standard regardless of house hold income, and iv) eliminating revenue draining white elephant projects such as municipally run/owned parking garages. (Sorry, I could not help myself.)

It is likely naive of me to hope that our leaders (again be they elected or union leaders) will deflect our current financial trajectory But it is a must because it is the only way to ensure what was contracted is delivered. A deal is a deal and we should stand by what we agreed to pay. However, all have to recognize that will be true only if there is money to pay for what was promised. The balance is we all have a line in the sand on how much more we will pay to support current services.

My comments are not intended to offend anyone. Their purpose is to be a call to action and compromise because I love it here. I enjoy my neighbors, the schools, teachers, the community, and I don’t want to bailout when my kids are off to college. I want to be apart of the solution and not just a piggy bank. I know others feel the same but we will vote with our feet if our leaders lead poorly and without reasonable foresight.

Village Counsel and union leaders, is there a willingness to make reasonable contractual changes now before it is too late or do you prefer the status quo? Your responses and actions are very powerful. Your decisions will dictate how fast our tax base erodes and how the Village will deliver on the benefits of your bargain. I respectfully suggest that your challenge is now because time is money and money is finding other places to live.

2 thoughts on “Reader says , “time is money and money is finding other places to live”

  1. Agree a deal is a deal. But, nothing stops us from changing the deal for future applicants. Don’t understand why we are not doing that.

  2. To the author:

    The first rule of government is: “Embrace the status quo.”

    Why? Well, the answer is simple: a lifetime appointment to a cushy job, with the added bonus of a pension.

    Unlike the private sector, these people can’t be fired (unless they REALLY screw the proverbial pooch).

    Why on earth would they make sweeping changes to satisfy the very people (the taxpayers) who make it possible for them to hold those cushy positions in the first place?

    The majority of these government workers have no interest in the private sector because they would be held truly accountable. Instead, they don’t upset the apple cart and they milk that cow as for long as possible…

    And, to the Federal employees who aren’t earning paychecks right now: quit moaning you greedy, self-serving bastards! Consider it a extended *paid* vacation courtesy of the taxpayers! Where can I get that deal?!?

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