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  • San Diego And San Jose Approve Pension Cuts In A Landslide Vote

    06/06/2012 7:37:23 AM PDT · by SeekAndFind · 94 replies
    Business Insider ^ | 06/06/2012 | AP
    SAN DIEGO (AP) โ€” Voters in two major California cities overwhelmingly approved cuts to retirement benefits for city workers in what supporters said was a mandate that may lead to similar ballot initiatives in other states and cities that are struggling with mounting pension obligations. Supporters had a simple message to voters in San Diego and San Jose: Pensions for city workers are unaffordable and more generous than many private companies offer, forcing libraries to slash hours and potholes to go unfilled. "The public is frustrated," said San Diego Councilman Carl DeMaio, a Republican who staked his mayoral bid on...