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EconoMeter: Will pension vote result in 'brain drain?'

San Diego, San Jose and Wisconsin voted for reduced benefit cuts

Roger Showley, SAN DIEGO U-T

Friday, June 8, 2012

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Kelly Cunningham, National University Systems

Answer: NO

Government workers are not likely to leave their positions to work in the private sector where they will encounter a still sluggish job market. Of course they are welcome to try. They would also likely find they have to work harder for lower pay in comparable skill positions, having fewer benefits, and earning much less, if any, retirement compensation. It is interesting for people paid more than those paying them to complain about their relative compensation. Perhaps voters realize lower taxes are preferable to spending ever more on public benefits far more generous than they receive among private companies.