Over the holiday weekend I had an opportunity to read a very interesting and reflective interview with Fred Siegel, an economic historian of the American city, written by Matthew Kaminski on The Wall Street Journal web site. Siegel discusses “how government unions came to dominate state and local politics.” Here is the link:
This article really puts the current economic problems into a simple and easy to understand explanation by an experienced economist who has strong ties to a socialist environment within his family. I have never heard our current problems explained so logically and I hope you find this to have been a valuable experience to better understanding just what we must do to improve our economy in the near term.
The resolution is political dynamite, but it must be confronted because we simply do not have the funds to continue paying the unfunded union pensions that our government officials authorized to garner union voter support. Only strong leadership will solve our current economic debacle, but the day of reckoning must now be faced head-on, because the alternative is unacceptable to both political parties.
When you read articles with such substance as this one, it is easy to understand why The Wall Street Journal is so highly regarded.