There's no getting away from the pension issue these days or from the fact that the state's pension system is on the brink of disaster unless pensions for state and local workers are pared back dramatically. The only people in denial these days are the Brown administration and the state's legislative leaders, as their response to a prestigious government report makes clear.More at the link.
The well-respected and non-partisan Little Hoover Commission drew some conclusions that even many pension reformers have been reluctant to make – namely, that pensions must be reduced for current employees. The state's unfunded liabilities, or pension debt, is estimated as high as a half-trillion dollars. That is the amount taxpayers will owe to make good on pension for current retirees and employees. Most of the debate has centered on reducing formulas for new hires, but as Little Hoover explained, that won't put a dent in the problem.
I'll be heading to Sacramento if anarcho-communists stage an occupation of the state capitol. Of course, we've got Governor Jerry Brown, so lefties should be well taken care of. Still, some of the anarchists don't care who's in power, so that'll make things tough for the SEIU commie thugs, who'll end up beating on folks who're basically on the same side.
RELATED: AT LAT, "GOP senators claim 'impasse' in budget talks with Gov. Jerry Brown."
Photo Credit, "Anne Stausboll, chief executive officer for the California Public Employees Retirement System, testifies on the state retirement system during a legislative hearing at the Capitol in Sacramento, Calif., Wednesday, March 2, 2011," Albany Times Union, "Democrats cool to targeting workers' pensions."
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