California is GREAT: Now the worlds 5th Largest Economy at 2.7 Trillion. UK is 2.5 Trillion.

[Baz Ares]

California now world's 5th largest economy, surpassing UK

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

btw: It is interesting that 350M folks generate 23 Trillion plus in GDP.
As China is in a close 2nd, with 2 Billion peoples.

And whiny little Americans are acting stupid. Giving more to the 1%. in a BS 2017 Tax Cut

 

[Wyatt earp]

Oh please California is in worse financial shape then Mississippi...lol



State Fiscal Rankings

 

[Wyatt earp]

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Issue 1801 The Unstated State Of The Nation-State
Can California Save Itself From A Pension Disaster?
by Joshua D. Rauh
Thursday, January 25, 2018

The California Public Employees’ Retirement System (CalPERS) and other pension systems in the Golden State might be celebrating their recent investment returns, but don’t be fooled. Their problems are nowhere close to solved — and those problems are taxpayers’ problems.

Unfunded pension liabilities continue to represent a colossal fiscal burden for both the state government and local governments within California. They’re the reason that taxes are higher than ever, crowding out the services that the state and cities deliver.

And it’s getting worse.

At the state level, pension contributions have grown from 2.1% of the budget in 2002–2003 to 6.5% in 2016–2017. They’re set to grow even more in the current fiscal year and into the future. Cities such as Los Angeles and San Jose are now contributing well over 10% of their budgets to pensions, and CalPERS is charging smaller cities amounts that are north of 15% of their general fund revenue.

At the same time as all these contribution hikes, the stock market has roared to record highs. Investors that participated in the S&P 500 since the end of 2002 would have started 2018 with a four-times return on their money, or around 10.5% per year. So of course, with all this extra contribution money and massive windfalls from the stock market, the pension funds must now be in pretty good shape, right?

 

[Baz Ares]

• News & Events
• About Hoover
• Get Involved
• Connect With Us
• Hoover in DC
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Top

You are here

1. Home ›
2. Publications ›
3. Eureka

Issue 1801 The Unstated State Of The Nation-State
Can California Save Itself From A Pension Disaster?
by Joshua D. Rauh
Thursday, January 25, 2018

The California Public Employees’ Retirement System (CalPERS) and other pension systems in the Golden State might be celebrating their recent investment returns, but don’t be fooled. Their problems are nowhere close to solved — and those problems are taxpayers’ problems.

Unfunded pension liabilities continue to represent a colossal fiscal burden for both the state government and local governments within California. They’re the reason that taxes are higher than ever, crowding out the services that the state and cities deliver.

And it’s getting worse.

At the state level, pension contributions have grown from 2.1% of the budget in 2002–2003 to 6.5% in 2016–2017. They’re set to grow even more in the current fiscal year and into the future. Cities such as Los Angeles and San Jose are now contributing well over 10% of their budgets to pensions, and CalPERS is charging smaller cities amounts that are north of 15% of their general fund revenue.

At the same time as all these contribution hikes, the stock market has roared to record highs. Investors that participated in the S&P 500 since the end of 2002 would have started 2018 with a four-times return on their money, or around 10.5% per year. So of course, with all this extra contribution money and massive windfalls from the stock market, the pension funds must now be in pretty good shape, right?

Really?

Pension fund hits milestone: It’s earning more money than it’s paying out

still, the Market crashes again.

 

[toobfreak]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

Yep. Time for about 80% of that state which just happens to have a lot of resources to drive a good economy NO MATTER WHO RUNS IT to split off from coastal California to form a new state devoted to the rule of law. Despite their economy, the democratic-led California is now looking to run a $1,600,000,000 deficit under moon unit Jerry Brown.

Democratic run California is:

Second highest crime rate in the country by state.
List of United States cities by crime rate - Wikipedia

Democratic-run California ranks 49th in overall FREEDOM.
That includes taxes, regulation, gun rights, and schooling, among other things.
#49 California in Overall Freedom

What a DEMOCRATIC CONTROLLED State can do! Yep. It takes a real clueless bonehead to brag about that.

 

[Roudy]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

btw: It is interesting that 350M folks generate 20 Trillion plus in GDP.
As China is in a close 2nd, with 2 Billion peoples.

And whiny little Americans are acting stupid. Giving more to the 1%. in a BS 2017 Tax Cut

Hah! All on the backs of the federal govt. and other states which pay back California the high state taxes they impose on people. And even with those high state taxes, they are still going broke, and have the largest number of homeless people. No difference between Marxism or Marxism light.

 

[LA RAM FAN]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

Yep. Time for about 80% of that state which just happens to have a lot of resources to drive a good economy NO MATTER WHO RUNS IT to split off from coastal California to form a new state devoted to the rule of law. Despite their economy, the democratic-led California is now looking to run a $1,600,000,000 deficit under moon unit Jerry Brown.

Democratic run California is:

Second highest crime rate in the country by state.
List of United States cities by crime rate - Wikipedia

Democratic-run California ranks 49th in overall FREEDOM.
That includes taxes, regulation, gun rights, and schooling, among other things.
#49 California in Overall Freedom

What a DEMOCRATIC CONTROLLED State can do! Yep. It takes a real clueless bonehead to brag about that.

It is so fucking unreal that that motherfucker criminal Jerry Brown is STILL in office.

 

[percysunshine]

.
Kind of depends on where a Californian lives...

L.A.'s homelessness surged 75% in six years. Here's why the crisis has been decades in the making

 

[shockedcanadian]

Yeah, we keep being told Ontario is doing great also...

Canada's National Debt Clock : The Canadian Taxpayers Federation

13.5M citizens and $309B in debt, and we don't have to pay for so many issues such as defense. Put a fork in us, unless America subsidizes our economy with jobs and U.S taxpayer money as they have the last 30 years...

 

[IsaacNewton]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

btw: It is interesting that 350M folks generate 20 Trillion plus in GDP.
As China is in a close 2nd, with 2 Billion peoples.

And whiny little Americans are acting stupid. Giving more to the 1%. in a BS 2017 Tax Cut

This is why cons hate CA so much, the most liberal state destroys all the other red states ecnomically combined. It is like conservatives having to sit on a white hot poker continually.

 

[Wyatt earp]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

btw: It is interesting that 350M folks generate 20 Trillion plus in GDP.
As China is in a close 2nd, with 2 Billion peoples.

And whiny little Americans are acting stupid. Giving more to the 1%. in a BS 2017 Tax Cut

This is why cons hate CA so much, the most liberal state destroys all the other red states ecnomically combined. It is like conservatives having to sit on a white hot poker continually.

Like I always said libtards don't know how to do math.

 

[Baz Ares]

California now world's 5th largest economy, surpassing UK

View attachment 191956
View attachment 191957

What a DEMOCRATIC CONTROLLED State can do! Take that UK!
texASS is in 13th place under its better Russia! In 12th Place.
A whole 1 Trillion lower. Dang? Too much time spent on guns and abortion?

Yep. Time for about 80% of that state which just happens to have a lot of resources to drive a good economy NO MATTER WHO RUNS IT to split off from coastal California to form a new state devoted to the rule of law. Despite their economy, the democratic-led California is now looking to run a $1,600,000,000 deficit under moon unit Jerry Brown.

Democratic run California is:

Second highest crime rate in the country by state.
List of United States cities by crime rate - Wikipedia

Democratic-run California ranks 49th in overall FREEDOM.
That includes taxes, regulation, gun rights, and schooling, among other things.
#49 California in Overall Freedom

What a DEMOCRATIC CONTROLLED State can do! Yep. It takes a real clueless bonehead to brag about that.

CA has 38M folks in 23rd place. South Dakoda has some 900,000 folks. in 1st place.

South Dakoda 2,086 property crimes/100,000 with 900,000 folks.
CA, 3,000 property crimes/100,000 with 38M folks. That be 37 times more folks. CA is safer.
Ca

.

 

[Baz Ares]

Yeah, we keep being told Ontario is doing great also...

Canada's National Debt Clock : The Canadian Taxpayers Federation

13.5M citizens and $309B in debt, and we don't have to pay for so many issues such as defense. Put a fork in us, unless America subsidizes our economy with jobs and U.S taxpayer money as they have the last 30 years...

Canada is in 10th place. Better than losers Russia and texASS!

 

[Moonglow]

Way to go California it profits even when called a shithole by republicans.

 

[Moonglow]

California also has the lowest participation rate in the SNAP program.

 

[Nova78]

California is a subsidized cesspool .

 

[Baz Ares]

California also has the lowest participation rate in the SNAP program.

 

[Moonglow]

California also has the lowest participation rate in the SNAP program.

View attachment 191979

ewww, Texass, why it's full of Texicans, and my ex-wives, so I stay away from that state.

 

[DigitalDrifter]

Dimocrat control has nothing to do with California's success. In fact Dimocrats and their addiction to government regulations make life miserable for the small and large business industry.

California's 40 million population created due to it's great weather, and it's Mexican slave labor, is what is responsible for the incredible success and growth over the years.

If Dims were out of the way, it would be even better.

 

[LA RAM FAN]

.
Kind of depends on where a Californian lives...

L.A.'s homelessness surged 75% in six years. Here's why the crisis has been decades in the making

you nailed it.