Public-employee pensions face a rollback in Calif

Discussion in 'Economy' started by Nova78, Jun 10, 2012.

  1. Nova78
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    Nova78 Silver Member

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    Public-employee pensions face a rollback in Calif. | General Headlines | Comcast

    Voters in San Diego and San Jose, the nation's eighth- and 10th-largest cities, overwhelmingly approved ballot measures last week to roll back municipal retirement benefits — and not just for future hires but for current employees.

    From coast to coast, the pensions of current public employees have long been generally considered untouchable

    State and local governments may have $3 trillion in unfunded pension liabilities, and seven states and six large cities will be unable to cover their obligations beyond 2020, Northwestern University finance professor Joshua Rauh estimated last year.

    Welcome to reality and the real world,you will see more of this as local governments financially fail :eusa_boohoo::eusa_boohoo:
     
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  2. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    The State doesn't have the money yet ballot measures get approved to "roll back municipal retirement benefits" that they already don't have? :confused:
     
  3. rightwinger
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    rightwinger Paid Messageboard Poster Gold Supporting Member Supporting Member

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    Welcome to a Republican America

    Roll back benefits that have already been earned. Set an example by breaking a deal you have made with your employees.

    If you work for me, I will pay you so much salary and provide the following benefits. Well, they have already upheld their end of the bargain and provided the labor.....now they are welching on the benefits
     
  4. Joe Steel
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    Joe Steel Class Warrior

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    That's one of the most disturbing aspects of Republican "principles." No promise is reliable.

    Never trust a Republican. Even Republicans should take that advice.
     
  5. Nova78
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    Nova78 Silver Member

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    Its a big shit sandwich, we all have to take a bite, including under worked overpaid government workers, the system is broken, and needs fixed, the kitty has run dry.......welcome to reality, the government continues to stick in the taxpayers asses to pay for there mismanaged system, only thing is they are running out of taxpayers , and keep squeezing taxpayers who pay in way to much already...:piss2:

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  6. Katzndogz
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    Katzndogz Diamond Member

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    California has run out of rich people to tax. Every time there is a new tax to tax the rich, more rich people leave. What's left are public employees getting paid from taxes and the poor who live on public benefits funded by taxes. Instead of pitting the poor against the rich, a system that made California totally democrat controlled, its now the public v. public sector workers. The voting poor would rather public sector workers lose benefits than the public lose entitlements. If there were so many more poor that the rich could easily be outvoted and fleeced, then certainly there are more poor than government workers, who is the next group to be fleeced.

    The governor is a democrat. The Lt. Governor is a democrat. The attorney general is a democrat. California's problems are caused by democrats and perpetuated by democrats. Now we can see where it leads.
     
  7. Trajan
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    Trajan conscientia mille testes

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    :lol:welcome to ignorance RW.....you're a factual wreck, you know that right? here, a dyed in the wool blue state for you-

    http://www.nytimes.com/2011/10/23/b...the-pension-crisis-is-now.html?pagewanted=all

    http://riredteacher.wordpress.com/2012/04/20/rhode-island-pension-cuts-set-chilling-precedents/

    and even bluer, 4th largest city in California, a LIBERAL city to boot with, a Democratic mayor who proposed the ...which passed by a LANDSLIDE.

    All precincts counted: San Jose passes pension reform - San Jose Mercury News
     
  8. Wiseacre
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    Wiseacre Retired USAF Chief Supporting Member

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    Listen up, you ignorant leftwing dipshits - this was passed by the voters by huge majorities! It wasn't the repubs, it was the voters! In a deep blue state, by 2 blue cities! Christ on a crutch, it wasn't the GOP, it was the citizenry who wised up to the fact that they can't fund the pensions and provide the necessary services that current residents need.
     
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  9. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Just like when Gay Marriage doesn't pass because Liberal Blacks and Liberal Hispanics don't like it, they STILL wanna' blame the White Male Christian Conservative.

    That must be the "Conservative, Al Qaida Bogeyman" they always claim is after them and all their "rights".
     

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