re: Massive layoffs and pay cuts likely coming to state and local governments

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I feel, at the minimum, there should have been furloughs for a couple of days a month from the get-go. Especially federal & state.

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Agreed. There was absolutely no reason to have your entire workforce sitting at home getting paid when most were probably doing very little while knowing that a massive revenue shortfall was coming.

Furloughs will be coming down the road though. It’s unavoidable at this point. I don’t see some massive reduction in positions though. You may lose some because of the pay cuts but not many. No one wants to walk away from the pension. Maybe this will finally force them away from the pension model. I don’t believe the Feds should bailout the state’s failing pensions. If they want to plug a budget gap with a one time payment, that’s one thing.