the unionists have no problem threatening to strike if they don't get a contract giving them inflated undeserved pensions for doing a pizz poor job and i have no problem if they don't get them, so we're even...If you have an unfunded/paygo pension, you probably aren’t going to have a pension in a few years.
Stockton still exists?
It was a broke, hellhole when I lived in CA in ‘80-’82!
A lot of folks are going to be taking a shave or haircut on their pensions in coming years. The illegals will still get those 34 million green-cards Obama is printing up & welfare though. The United States is no longer a serious nation IMO. That ship has sailed.
The constitutionality of this ruling is questionable since cities are political subdivisions of state governments. But when have the federal courts ever passed up an opportunity to expand federal power at the expense of the states?
“Wilterdink”
Odd last name.
Why is that such a revolutionary concept? Why? Some crooked Dem politician promises government workers the moon and the stars to vote for him but doesn't fund it at the time the promise is made, as is required under ERISA. Its writing a check that you expect future generations to pay. Why is it so revolutionary to think that the promise was way to generous? That no one can afford to pay it? Forcing people to pay for these wildly rich pensions is slavery, pure and simple.
Pensions were long thought to be absolutely sacrosanct and unable to be cut, even in bankruptcy, especially since pension obligations are specifically protected under state law.
This has Always been the BIG LIE and Only those unable to think for themselves believe it, you cannot enslave a future generation to pay for your WANTS TODAY.
Any Pension Plan that has “Unfunded liabilities” is by definition a PONZI scheme. it requires future revenues to fund day to day operations, and wholly ILLEGAL.
All Public Pensions could be eliminated tomorrow by the Legislature.
This will all blow up big time in the very near future.
the unionists have no problem threatening to strike if they don't get a contract giving them inflated undeserved pensions for doing a pizz poor job and i have no problem if they don't get them, so we're even...“Judge Klein’s ruling has highlighted the fact that political promises must bend to the reality of numbers.”
Approaching 18 trillion
https://www.youtube.com/watch?v=3hIcKkKID8k
If you all will notice, every one of these politicians that presented the city of Stockton with all this misery, are all gone. Yep, they’ve done their damage and left the town holding the bag. I would be very curious as to see where they’ve gone. I will guarantee you that they are in another part of the country, to do damage to what ever town they wind up in