Retiring at 44 and getting a 100k pension is pretty hideous. There is absolutely no justification for final salary / defined benefit pensions. All pensions should be defined contribution, i.e. personal investment account that gets turned into an annuity on retirement based on your expected remaining lifespan (and not before a sensible minimum age e.g. 55). This is the only fair approach.
Illuminatus Primus wrote:Your "solution", in fact, would help accelerate to decline of middle and working classes,
Happening anyway, bloating up and overpaying the public sector won't help, actually it will hurt by creating artificial divisions and diverting attention away from fundamental issues (some of which are unfixable anyway). Plus of course increasing both inflation and taxes and ultimately creating more poverty.
create even more unemployed benefit-sinks.
Plenty of government workers are either utterly useless, or
negatively useful corrupt impediments to getting anything done. Having them on benefits would cost a quarter of what their bloated salaries cost, and they'd be forced to look for a job where they actually contribute to the economy.
gigantic prison populations
That has nothing to do with breaking unions. I haven't seen unions campaigning for drug legalisation or more rehabilitation. In fact I haven't even seen them campaigning against prison labor, most likely because the prison wardens union is all for it.
Why did people turn to debt so much since Reagandom?
Because it was available. Don't kid yourself, higher base salaries would just meant people buy even more crap. Lack of median salary growth is a serious issue, and cheap debt did hide the issue, but the acceptance of credit, debt and living beyond your means was a cultural phenomenon. More base salary would have just bumped the average size of unaffordable McMansions built up a tax bracket.
Is it not because the U.S.'s wages relative to costs-of-living and inflation are stagnant, despite growth?
In a globalised world, private sector unions don't help much. Pushing for higher salaries just pushes more jobs overseas. The investor class reaps profits from outsourced labor and financial casino games in a way that isn't accessible to the bulk of the population; all they get is cheaper prices at WalMart. Public sector unions are different because the jobs can't be outsourced, but the problem there is that they've gone way overboard. Specifically they have demanded massive salary increases while refusing to allow any sort of productivity increase, and simultaneously intwining themselves insidiously into the political system. A natural if painful check on private sector unions was that when they inevitably got too greedy and started killing companies, other non-unionised companies filled the void, and whacked back the union influence. Now that local government bankrupcy has been ruled out there is no check at all on public sector union power, nothing short of bankrupting the whole country (and I'm not sure even that would kill them).
Because we have no public services such as health care
Lots of countries lack socialised health care, even Germany.
or decent public pensions?
You have social security, that quite enough of a public pension.
Because maybe, we have no industries anymore?
There is plenty of industry in the US, but it is all lean industry that employs relatively few people.
Who advised these evil city governments to take on debt and financialize?
No one did, they were forced into doing it by union-created budget deficits. The original excessive spending was not funded by debt, it was funded by taxes. The unions were either too short-sighted to conceive that tax revenues could fall, or (more likely) so greedy they didn't give a shit what happened as long as their bloated pensions were funded, and forced through the spending increases. When tax revenue did inevitably fall, that's when debt was the only solution.
In Florida, one six years ago a cop's or fireman's "bloated union" salary could not possibly get them a real home without scammy mortgages which I'm sure we're eagerly recommended to them. What were these people supposed to do? Not live anywhere?
Offer government owned or subsidized housing. This is the same principle as food stamps, if there is a specific cost the government has to address then funding should be given for that only. Paying bloated salaries gives public servants a personal wealth twice (or more!) what the same skills can get in the private sector. That is both unfair and unsustainable. Cheap rents on government-owned city center housing addresses the specific problem without needing excessive salaries. Although frankly, that argument only applies to specific jobs that form a small fraction of the local government payroll. All those mindless beurecrats have
no right to whine about housing costs, when their private sector counterparts who also work in city offices have to commute.