Mayor Bloomberg took a swipe at NYC Comptroller John Liu’s major report saying public sector workers, on average, earn far less than their private-sector counterparts, something that has been in debate amid the economic crunch in local governments nationwide.
On his weekly radio show, Bloomberg said Liu’s report “didn’t include pensions” into their calculation, and, in some cases, made unfair comparisons between the public and private sector.
“The comparison, I didn’t think was a fair one,” Bloomberg said.
Larry Littlefield also makes this critique of Liu’s report:
The report doesn’t compare pension funding over time, and does not account for the fact that the public sector has been underfunding pensions (which were retroactively enhanced) while the private sector is not allowed to do so (at least to the same extent — unfortuately they manage to get away with it sometimes). Public sector pension contributions have to soar to make up that difference.