[goldstategop]

Of course it is. Arnold is proposing a modest reform but Democrats are too frightened of political retribution from public employee unions to even touch California's underfunded pension system.

(Denny Crane: "Sometimes you can only look for answers from God and failing that... and Fox News".)

[phoenix0468]

California's pension system wouldn't be in so much trouble if the pension managers wouldn't have been involved in the Enron investment kickback that caused brownouts, and billions of dollars in losses. Before Enron's involvement in California energy, the pension was doing pretty well. But of course the government was being run by dems back then right?

[calcowgirl]

Huh? Modest reform? His proposal was a radical solution, throwing the baby out with the bath water. The problems can be solved without throwing out a system that has worked for over 50 years. His proposal did nothing to address the benefit problem and even the Legislative Analysts Office said this would save no money for decades.

His proposal for 401Ks handed control over to the Wall Street types, the same guys responsible for the losses that caused the need for most of the contribution increases. The 401K system would allow them to operate with much less accountability than today.