Amazing how far Chicago has come since the infamous Pullman Strike that had President Grover Cleveland calling in the federal troops that left up to thirty railroad workers dead, and Labor Day coming to life. Today, Chicago's organized municipal labor unions need $1.3 billion more by 2023 to fund its city's four public pensions plans.
Our very own city of Warwick is looking at almost $400 million in unfunded municipal healthcare liabilities (currently funded at $0), along with a total funded/unfunded liability of over $1 billion.
I'm thinking the labor unions must be completely ecstatic over the soaring stock market which is resulting in double digit rates of returns on pension plan investments.
So this Labor Day, I will raise my glass and give a big shout out to all of the great Americans that organized on November 8, 2016 to revitalize American capitalism, bring back American jobs, and to take a stand to protect American jobs, first. Oh, that's right I almost forgot, I'll also be giving a second toast to workplace choice and employee freedom. 🇺🇸