working for the state is like winning the lottery... they stuff their snout into the public trough up past their eyeballs and don't take it out till they retireAll these publically funded retirement funds, are a holdover from a past era.
Companies are now offering 401k funds, which require an employee to build their own retirement funds.
Public retirement funds are an expensive, burdensome mess, left over from the past. They should be abolished.
working for the state is like winning the lottery... they stuff their snout into the public trough up past their eyeballs and don't take it out till they retireThe formula for peace officers was 2.5% times years of service X your highest year at 55. When Gray Davis wa sin office he raised the CHP and correctional officer to 3.0 at 50. Then you have LAPD and others saying hey we want what those guys get so we can recruit against them. Now most Pos and SOs have the tiger formula. Davis justified not on trumped up estimates and then of course the investments didn’t reach the estimates. now the state and many counties and cities have bankrupt system. Jerry Brown has ignored this problem and someday their will be an implosion.
Please, get that secession thing going and done fast.
Municipalities in California are forbidden from carrying any debt aside from those which have issued bonds, and in most cases, are voted on by the people.
That’s a very important thing above. It means that no city is beholden to a contract promising future remuneration outside of the current and approved budget.
The state, at the behest of rather powerful unions (considering that nearly 20% of the population of California either works directly or one step removed from the government) has put in laws which state that any government body is responsible for the contracts, even those which pre-date the current elected (or appointed) body.
The state laws also obligate the people to make up any shortfalls that happen to these contracts, promises and unfunded plans.
Strangely, none of these have really faced much of a court challenge aside from token resistance (mostly as a negotiating tactic), especially to answer the most critical question: Can a body obligate future bodies to spend budgetary money in a particular fashion or for a specified function, or does the current body which has budgetary powers have the option of disregarding these unpaid and unbonded liabilities?
And if such a thing can take place, couldn’t a current budgetary body specify how all future spending shall take place and negate even the need for future budgetary bodies to meet since the budget has already been determined by people who are no longer elected or appointed members of that body?
City of Los Angeles is closer to 18 billion in the hole, county of Los Angeles is about 7 billion in the hole, Los Angeles Unified School District is nearly 12 billion in the hole. And under existing court rulings, all these debts are mortgages on the properties of private citizens.
No Worries!! More and more illegal, trespassing invaders will get jobs and all will be well (until it’s not). Classic democRAT mathematics.
Creepozoids All.
Yet, a year after Jerry Brown was elected the left was praisinig him solving all of California’s economic problems.
After Calexit they will be able to print their own money. Problem solved.
You can bet your sweet A$$ the USA will experience hyperinflation wiping out every generations security they worked for just A$ in the 1970$, 1990$, 2002($), etc.
There are over 1 Million Illegal Aliens in Los Angeles, currently 40% of the population in Los Angeles works under the table and off the books. Why don’t they just enforce the current Laws or maybe ask thier beloved and highly coveted illegal alien population to Pay Thier Fair Share.??
One just cannot beat the Democrats for running a state. Look no further than California, they are a shining example of good old fashioned socialism and greed. Success as ever a Democrat has done