Posted on 06/07/2010 12:39:55 PM PDT by SmithL
Gov. Arnold Schwarzenegger's full-court press on overhauling the public employee pension system reform got a mention in POLITICO over the weekend.
Schwarzenegger, interviewed for a piece on the power of public employee unions in this year's cycle, reaffirmed the pledge he made in unveiling his revised budget in May to "not sign a budget if we don't have pension reform and budget reform."
(Excerpt) Read more at blogs.sacbee.com ...
Blah, blah, blah. We’ve heard this tough talk from him before. He’s going to hold out for a short time and eventually give in to some meaningless compromise that sounds good but is full of holes.
Just go away you Euro-pansy. You’ve done enough damage to our state and our party.
Great! Don’t sign the damned thing. Ever!! It’s way past time for another constitutional crisis.
break CalPERS
He is now in the bottom of the 9th with two strikes against him. Loser.
Just remember, CalPERS is the largest holder of commercial real estate in the United States. Please break it carefully or the entire industry collapses.
Arnold needs to take a class in government 101 from Governor Christy of New Jersey.
Remember Arrrrrnold is also dealing with majority Libtards in Sacto. Some of the comments from the SacBee link are from state workers lamenting how much they already gave up. However some of the pensions paid are truly outrageous. Absolutely NO state worker should ever receive a six figure annual pension. Along with Unions they are helping to bankrupt the state.
Many of these pensions are absurd! A state worker could retire at the age of 50 and receive 90% of his highest yearly salary for the rest of his life. These were approved by Gray Davis back in 1999, and the investment projections he relied on assumed the Dow Jones average would rise to 25,000 by this year and 28,000,000 by the end of the century!
The bill for California taxpayers will be over a half-trillion dollars. That’s impossible!
Amen to that!
Yeah, that’ll work.
Uh, ooh. Um. I have some bad news. Ah...
How do I put this...
US Commercial real estate is a mountain of dynamite and the fuse is lit. It's not a matter of if, or even how big. Just when.
Shhh... I still need my paycheck.
A state worker cannot retire at age 50 and receive 90% of his salary. Most pensions are 2% * number of years in service at age 55. Retiring at 50 means the number of years is multiplied by much less than 2%.
Of course, public safety (CHP) have a better deal.
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