On the one hand I feel sorry for the people, but on the other hand they voted for these morons.
This would amuse me.
Maybe that guy who won the big lottery prize could also help, eh?
Got to get more cash for the illegal’s welcome mat.
The good news is, Nancy Pelosi says the cuts be crumbs.
This is really rich! Now, in his final days of a combined total of 16 years as CA’s governor, and depending on the state’s PEs and Teachers, to put him in office, he’s going to f*ck them on the way out the door! Way to go Jerry! Between you, your equally worthless father, Edmund G. “Pat” Brown, and your former Chief of Staff, Gray Davis ( the one we recalled ), you have managed to take this once #1 in the nation to dead last! The three of you “Coleman Younged” California real good! BTW, have you seen your old GF, Linda Ronstadt lately? What an oinker she’s turned out to be. Better that you married that “man” you married a few years ago!
Democrats will find a way to blame the Republicans.
IIRC, there are MANY retired state workers drawing over $200k in pensions every year from an unfunded pension system.
Isn’t this the state that pulled all the oil & gas investments of their public pension funds and is also suing large oil & gas companies for causing glow-bull warming? Obviously, they’re quickly running out of “other peoples’ money (OPM) and are now strong-arming anyone and/or any company they can to keep their insane liberal fallacy going.
What a shithole.
I don’t live there, but I got into an argument with a friend who is retired from there about their retirement system and he got quite upset with me when I told him to get it all now because the state government would loot the pension fund eventually. He adamantly denied that it could happen and talked about the health of CALPERS (?) and how well it had done financially.
Was only a few years ago and here we are.... it was all so predictable. Most Americans fail to understand the financial costs to the nation that we will incur from failing state governments - especially California who wields the most political clout of them all.
The sad truth is that we have some pretty big states that are being run like old Detroit or Baltimore. Same politicians + same policies = same results. They will want a bailout.
BUMP
I never understood how it was allowed for retiring public employees to juice their retirement benefit calculations in their last year with overtime, saved vacation and sick days.
Are the pension systems so deficient because of administrative bloat, bad tax bases and overly generous promised benefits without sufficient contributions that no amount of adjustment would reasonably make them whole? Would the pension systems around the country be in much better condition if the people gaming the system were just brought back into line with their average base pay?
The Marxists just keep taking. Gotta pay for all those illegal voters and Jerry Brown’s state employee utopian world. Real Californians paying for their opponents...the beat goes on.
Can't blame Ronald Reagan for this one.
Thankfully, California isn’t part of the Pension Benefit Guaranty Corporation, or they would bankrupt it. They will probably use similar guidelines though, chopping all pensions that exceed a certain level. I think PBGC only pays up to $60K or so.
On the one hand I feel sorry for the people, but on the other hand they voted for these morons.
Bound to happen - the state workers’ pension plan was headed for disaster eventually.
“The California governor revealed that he has a “hunch” legal proceedings could pave the way for cuts to public employees’ benefits.”
Public employee unions aren’t going to like this. Could get interesting.
California has the same situation as Greece, wherein public employees (State, Count, Municipal, School, College, Prison Guards, everything else) have enjoyed the redistribution of wealth to themselves from the taxpayers. I doubt the public will shed many tears, and tax themselves anew, if the flow goes the other way.
I’m glad that I have structured my life so that I never need to depend on payment from the government or an employer for my livelihood.