Calif: Davis proposes selling bonds for pension plans (akin to borrowing money to buy groceries)

San Francisco Chronicle ^ | Jan 23, 2003

[John Jorsett]

Here's another sign of just how desperate the state's financial position has become: Gov. Gray Davis is proposing to help close the state's budget gap by selling $1.5 billion worth of pension obligation bonds and using the proceeds to make its annual contribution to the giant retirement plans for state employees and teachers.

[45Auto]

Sorry, I was being a little crass in my analysis. Pete Wilson tried to do something similar and I remember that there was so much resistance from CalPERS that he was not able to pull it off. My wife worked in city government at the time and her union went absolutely bonkers even at the suggestion. It won't be easy for Davis and his Marxist cohorts to pull it off.

[Ernest_at_the_Beach]

That's good!


ROFL!!

[SierraWasp]

Hay! Din't yew guys reed the dang article? Pete already dun that an the dang judge made him pay it back with interest!!!

Dog Gone it, Dog Gone, yew cain't fool them judges an yew wudn't never make it as a polytishun! Yew oil patch guys just ain't slick enuf!!!

This is just Jimma Carturd, redux!!! He's headin fur the dang rocks, tryin ta turn the "ship of state" with the rudder, but won't evun cunsider furlin the danged sail with "spendin" written all over it! Whattaputz!!!

Maybe his silly little "Directur uv Fineants," Stevie "wunder" Peace can git CalPers to invest in another batch of "Killer Tomatoe" cult movies. Outta werk about as gud as this here junk bond leveraged buy out uv CalPers kitty!

You watch! Davis is dependin on Al Sharpton to git elected since Al GORE let him down and that'll solve everything!!! Al SharpTon, now THERE'S A POLYTISHUN!!! (He's almost as sluvenly as my writin)

[Carry_Okie]

Better yet, he should take out about $50 billion and write an IOU. Then he can go on a spending spree.

Yes, yes, I do have a future in politics, I see it now.

Great idea! You have my official blessing.

[river rat]

Inform the stupid bastard, that he must CUT COSTS - NOT raise taxes..
1 Cut staff
Release all "consultants" - they didn't do much good anyway.
Release 20% of staff at EVERY State office, except Law Enforcement
2 Cut salaries across the board -- about 20% - Teachers Included
3 Revise the criminally greedy state employee pension plan.
4 Discontinue the payment of State Funds to Winos, Crackheads and bums living on the streets in all major cities.
5 Stop providing FREE services to illegal immigrants at ALL LEVELS...... Schools, Hospitals, Clinics, etc.....
6 Reduce all welfare and state assistance of ANY KIND by at least 20%
7 Put our vast jail and prison population to some PRODUCTIVE work for society.

The "demosocialists" of Kalifornia will have to go on a diet, before they attempt to squeeze more out of the productive citizens....

Perhaps if the state goes bankrupt - we can toss out the criminally incompetent and corrupt DEMOCRAT Legislature and Governor...

The "glory days" are over... The ability to spend money like drunk sailors is over... The ability to pay bums to be bums is over..... Get used to it...

Semper Fi

[Destructor]

I think you just nailed it! I just wonder sometimes, if there are any sane and rational people in California.

[Dog Gone]

Dog Gone it, Dog Gone, yew cain't fool them judges an yew wudn't never make it as a polytishun!

Pete Wilson was an amateur! What a smart politician does is make sure that the right judge hears the case, meaning one that I appointed.

[John Jorsett]

I think you just nailed it! I just wonder sometimes, if there are any sane and rational people in California.

Not anymore. There's the ones who voted for Davis ('nuff said), and the rest of us who are driven to the brink of madness by their stupidity/apathy.

[SierraWasp]

"I just wonder sometimes, if there are any sane and rational people in California."

Millions of them!!!

Trouble is they all live inland and are trapped there by just a few more millions who live all along the coast, infected with mystic liberalism that must blow in from Asia sorta like the "asian flue!"

Those of us in "Rural CA" are every bit as conservative and as "Red Blooded" as the other Americans. We truly live in "occupied territory," my FRiend!!!