This weekend’s Wall Street Journal had a masterful article by Matthew Kaminski where he interviews well known good government wonk Fred Siegel. Siegel explains how the public employee unions have co-opted New York City and New York State’s Governments. It is no longer government for and by the people, rather it has become a closed parasitic system that exists to enrich government workers of all stripes. While the “public servants” on the top of the pyramid reap the biggest ill gotten rewards, even the lowliest janitor gets full medical benefits, free health insurance for life, bloated salaries and obscene pensions.
Siegel goes on to explain that reform will eventually be mandatory and undeniable and that it is already happening in a number of states like Wisconsin, Rhode Island and New Jersey. It’s simply a matter of time before it comes to New York, Connecticut and California. The question is whether these states will have to undergo a complete economic collapse to force needed change. Right now New York has avoided large scale cuts because it is a direct beneficiary of the Washingtonian Crony Capitalism that has bailed out Wall Street behemoths and therefore New York’s government. The people who work on Wall Street and those of Occupying Wall Street actually have much in common, they favor and openly embrace unlimited government. And this is the problem.