[kingu]

Retire from the state of California, then, because you’re still in your 40’s, take on a private job so you can double dip on your retirement.

I remember when public service was public service, not an easy way to make money.

[calcowgirl]

Excellent!

[Myrddin]

It sounds like the state was anxious to spend all the tax revenues and all the employee pension money. They were trying to hide the theft of the pension money by issuing bonds. Stinking politicians. They're always running out of other people's money.

Our local city government is constantly trying to dodge their responsibility to have enough liquid assets on hand to cover their liabilities for pension, overtime and vacation owed to the employees. I've had to remind them a few times that it isn't their money to spend.

[forester]

“It’s a big victory and a sobering message for the spendthrifts in the Legislature. They can’t use the credit card to cover ongoing costs of government.”

Former Gov. Gray Davis’ administration designed the pension bond plan.

In 2004, Schwarzenegger endorsed the plan.
___________________________________________________________

The problem with socialism is that one eventually runs out of other peoples money. - Margret Thatcher

[Amerigomag]

How do you know when your elected officials are really screwed up?

When the judicial is forced to implement policy with which you agree.

[stephenjohnbanker]

C C R.........criminals, crooks, and reprobates : )

[BurbankKarl]

CalPers is also holding a lot of hedge fund securities backed by “funny” mortgages also.

[Lancey Howard]

However, California's nonpartisan legislative analyst calculates the state faces $2 billion in potential costs from other ongoing court battles.

Wow! That's some expensive lawyers!

[goldstategop]

Arnold promised once to cut up the credit cards and wean government off its addiction to overspending. That seems like a lifetime ago now.

"Show me just what Mohammed brought that was new, and there you will find things only evil and inhuman, such as his command to spread by the sword the faith he preached." - Manuel II Palelologus

[skinkinthegrass]

Former Gov Gray Davis' administration designed the pension bond plan.

....figures. :/

[Saundra Duffy]

Don’t blame me; I supported Tom McClintock.