No government has ever spent its way to prosperity. Our proposals help governments be fiscally responsible so citizens can be prosperous.
Contact: Charles Siler
FOR IMMEDIATE RELEASE:
PENSION SPIKING LAWSUIT HIGHLIGHTS GROSS ABUSES OF AMERICAN TAXPAYERS
PUBLIC EMPLOYEES RETIRING AS MILLIONAIRES, WHILE HARDWORKING AMERICANS FOOT THE BILL
Unprincipled politicians use unlimited debt to buy votes today while shifting the costs of their policies to non-voting future generations. There is no effective political check to stop such behavior—except to impose a strong constitutional limit on the use of debt.
Contact: Lucy Caldwell
MEDIA ADVISORY: Here Are Five Unbelievable Things Government Unions Are Doing With Your Tax Dollars
Trial begins Monday to stop the illegal practice in its tracks
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MEDIA ADVISORY: SCOTTSDALE SCHOOL OFFICIALS RISK VIOLATION OF NEW LAW, SAYS GOLDWATER INSTITUTE LETTER
School-sponsored materials promoting upcoming bond election illegal
What happened to bring about this challenge?
In May 2013, the Goldwater Institute sent a letter to the City of Phoenix asking it to end its illegal policy of allowing senior police personnel to increase the amount of their pensions by cashing in unused sick leave, vacation, and other benefits. This practice of "pension spiking" violates state law. The city's refusal to end this policy is an affront to the rule of law and the Goldwater Institute is representing Phoenix taxpayers to stop this abusive practice.
Despite recent stock market highs, Arizona's pension systems remain dead men walking. Officially, the state's major pension funds are 72 percent funded, just 7 percentage points above what the federal government defines as the "red zone," or in critical condition. This means they are short at least $14.5 billion, or $2,300 for every man, woman, and child in the state.
Have you ever squeezed a balloon and had parts of it squeeze out between your fingers? Unless you pop the balloon with a pin, it will reemerge somewhere else when you squeeze it. Public employee pensions have become balloons, and abuse of public pension systems keeps oozing despite attempts to put the squeeze on it.