On the plus side, passage of this fiscally responsible legislation will make credit analysts look more favorably upon the state of Wisconsin's finances. The state's muni bonds will look more secure and taxpayers will save on interest costs. On the minus side, unionized teachers and other employees show how clueless they can be when sufficiently roused.
Unions are responding to this common sense legislation with their typical childishness, greed, and arrogance. This goes to show that union leaders just aren't intelligent enough to grasp economic concepts. These protesters may be even more dense than the Teamsters at YRC Worldwide, which I didn't think was possible until I read the stories coming out of Wisconsin today.
Wake up, unions. Your time is almost up. Do your members a favor by breaking the news to them that the days of generous benefits and job security for low-skill occupations are rapidly drawing to a close.
Full disclosure: No position in YRCW or Wisconsin muni bonds.