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It's Providence, Rhode Island cent that's the capital city of the of the sort of -- -- -- it's going bankrupt.
In short already is going bankrupt not in an efforts to -- the City Council just voted unanimously.
To -- it cost of living increases for the people already taking a pension.
Existing retired state workers they will not get a cost of living adjustment.
That would reportedly -- nineteen million a year at the local firefighters union says this is a huge mistake and -- wrong.
Paul -- is the presence of the local Providence firefighters union and he joins us now -- -- -- The city's almost it virtually bankrupt don't know money.
And you object if retirees.
Do not get a cost of living allowance make a case.
Well it also affects.
Active employees who would receive a pension in the future.
But our our real criticism of the mayor's plan in the -- ordinance is that it did we didn't give enough time -- -- effort into negotiating a settlement.
And by negotiating a settlement we would -- avoided.
Any future legal decision because in in my estimation at this point all the cities done is kick this down the road.
To let a judge decide it later on with -- I think very disastrous results if.
If you don't.
Accept up costs in cost of living a justice adjustments allowances -- should say.
Somebody else has to get that Soviets got pulled that pension -- that -- -- Who do you think you should be.
-- I think there's a way to spread that out and in them on throw up -- has been shared sacrifice.
I'll note that in this budget that included the cola ordinance reduction there's no tax increase.
And although it's hard pill to swallow that have to be on the table that you can't just surprising -- -- not always the answer or raise taxes raise taxes -- -- mr.
-- your city.
Has no economic activity going on I've been there -- one -- five years it is effectively.
-- you're dealing with Liberal Democrats.
On the council -- a liberal democratic mayor.
Isn't that the case that to maintain essential services you guys have to take a modest that I emphasized modest reduction in your benefits.
Yes and we're agreeable -- where our consternation is with the process.
That was involved we had sat down to negotiate.
We were working towards that.
And and then they simply took it off the table -- unilaterally implemented this ordinance the the fiscal impact of the savings for this doesn't Begin.
-- to appear until June 30 so we had almost sixty days to continue negotiation.
So -- say they were premature.
-- -- -- can't emphasis is you really can't -- the loss winning hair sorry command structure but look thirty devastating fire in my neighborhood in Westchester New York.
Early this morning for people killed two teenagers horrible horrible I can't say enough about fire department it is that probably one of the most thankless jobs out there but.
There's got to -- easy concession just X out all of this.
Government negotiation this Wheeling and dealing what can be done now.
Well at least be negotiated contracts formed the really the social fabric for the entire country.
And if they can just -- way this provision of a contract what would stop them from different and I think the way -- -- -- you city is bankrupt so I don't as as as don't set there was no economic activity in the city and the idea that we're gonna raise taxes.
To somehow couple cost of living adjustment -- just these dollars an ounce on our and I spoke to your former mayor Joseph -- not add to Buddy Cianci in the last two months they both agree.
But -- Stewart is saying is absolutely right it is unsustainable for -- not to make real concessions.
Otherwise services in your.
Almost -- -- your city.
Are gonna -- decline -- decline precipitously in the way the Lori was suggesting.
And we understand that the key is to sit down and negotiate -- we will not be dictated to.
We understand that there's a serious economic problem in the city in fact we demonstrated that just last year.
We sat down and renegotiated and a -- contract that we had helps get the city out of a 110 million dollar deficit we've acted reasonably and responsibly we will continue to do you do so but I need someone to sit down with me.
Not dictate to me okay.
Well I think the markets would dictate to you.
Because you've run out of money and that's due to well interestingly after these moves -- made S&P downgraded that the bond has got down here and I don't think it's a -- -- -- belt what's you bankrupt there's no SK I'll disagree with that -- well.
-- case make -- case.
Well bankruptcies agreement of the state I know look I'm not -- have also helped send a bachelor of -- not a bank that up money man can't understand that you run out of money there's no activity and you -- period no wrong -- you object because you cost of living adjustments are going to be adjusted.
I agree that they need to be changed I war concerned about the process and if you spent time here you've seen -- there us Americans and signing up this city is going bankrupt -- run out of money is flat out dead.
And you'll -- -- with the process.
So yes our because contracts have to -- if -- something the entire capitalist system is built time.
Understanding and appreciating and having contracts mean something all right so we -- you -- down it.
On the fire on his unit right -- province went on we thank you for joining us -- appreciate -- bye bye --
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