Detroit: Pensions, Racism and Bankruptcy
. Ross Eisenbrey, VP, Economic Policy Institute
. Richard (RJ) Eskow, Senior Fellow, Campaign for America's Future
. Al Garrett, President AFSCME Council 2
Detroit's economic woes can be tracked to capital flight, governmental policies and the results of institutional racism, not the wages and benefits its public workers received. But, ignoring these bedrock realities Michigan's Governor Snyder has appointed an Emergency Financial Manager for the cash strapped Detroit, Kevyn Orr , who has rushed into bankruptcy - seeking to balance the books on the workers's backs. His bankruptcy filing will result in pilfering workers’ pension funds, while fundamentally ignoring the causes of the City's fiscal crisis. Bankruptcy will seriously wound pensioners, despite the fact that the unfunded portion of the pension funds are minuscule and the plan's nconstitutional under Michigan’s Constitution. Orr's undue attention to public workers pensions is part of a nationwide trend targeting the retirement security of working Americans -- especially pensions, Social Security, and Medicare.
to download or listen go to
WBAI's Building Bridges airs Mondays over 99.5fm in the NY Metropolitan region on Mondays from 7-8pm
It is syndicated to over 40 broadcast and internet radio stations in the US, Canada and UK