“Cost of Living Increases” to Conn Officials Unjustified
Care to know why Connecticut colleges and the University of Connecticut needs huge influx of additional money each year?
One reason is cost of living increases for folks making more than $290,000 annually.
It is fascinating how the trustees of the Connecticut State University System can justify voting Monday to give their top executives 5 percent cost of living increases when there has been no cost of living, except for medical care (which of course has its own unsavory reasons for the annual cost increases) and for education.
In reality there is NO INFLATION or NO COST OF LIVING increase. Infact, these supposedly bright people responsible for our tax dollars are educated enough to know that the Federal Reserve is more concerned about DEFLATION – the price of goods and services going down – than inflation.
Gov. M. Jodi Rell was right to tell the board to stop the proposed 10 percent or more “pay equity” raises and she should tell the board to also forget about cost of living increases.
The Governor should demand cost of living DECREASES instead. If annual raises are based on cost of living, it should work like an elevator .
When REAL inflation goes up, cost of living raises can go up, but when REAL inflation goes down so should salaries.
No one knows this better thanKarl J. Krapek, the former president of UTC and now chairman of the college system board. George David, the former UTC chairman, would have had Krapek take an immediate drug test if he ever even suggested giving UTC workers a five to 12 percent pay raise.
And Krapek personally knows that costs are going down. Ask him how many of his expensive condos he built in West Hartford have sold in the last two years and if their selling price went UP or Down.
Now this cost of living issue is on top of pensions and health insurance unavailable in most private sector jobs – none of which Connecticut and most other states have put away adequate money to fund.
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5 Responses for ““Cost of Living Increases” to Conn Officials Unjustified”
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I don’t get cost of living from my employer, even though the cost of living goes up every year. It’s not manditory and shouldn’t be so easily abused. Things are tight for everyone in the Stat of Connecticut, so why favor State Employees?
Cost of living raises for the rich? You’re joking, right? How can that be when they cut back COL raises for people who are on Social Security for two years? UGH! TOTALLY unjustified!!!
you are kidding right??? no one should be getting any raises, ESPECIALLY THE FAILING GOVERNMENT SECTOR…….. they should all be FIRED instead….. It should be a vote of the american people if they get raises.. NOT THEMSELVES……… UNBELIEVABLE
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