PDA

View Full Version : Arnold Schwarzenegger: Public Pensions and Our Fiscal Future - WSJ.com


chadbag
08-30-10, 11:10
http://online.wsj.com/article/SB10001424052748703447004575449813071709510.html
M4arc
08-30-10, 11:44
That's an eye opener right there! Holy cow...

And judging by the stats on how public sector jobs are growing these days I guess we can see similiar issues in more states and fed soon. Not very encouraging.
GermanSynergy
08-30-10, 11:49
Until some fiscal sanity is restored across the land, this will get much, much worse. Has CA cut entitlements?
Entropy
08-30-10, 11:49
I think it has more to do with unions that anything else. Whether that be Federal, state, or private industry for that matter. At least with private industry, there is the option of putting the union workers out of the job by the business closing their doors.

I work for the Department of Interior. If I were to join a union, I'd be fired. They recently cut 50% of what the govt contributes to my TSP to compensate for the times, but I feel that it is reasonable.
austinN4
08-30-10, 12:14
http://online.wsj.com/article/SB10001424052748703447004575449813071709510.html
Well written and dead on point. You go, Gov!

California is broken and, as a result, broke.
ForTehNguyen
08-30-10, 12:40
simple demonstration of what happens to State Budget problems when pensions come into the picture:
http://www.youtube.com/watch?v=u9ieKL1OijA
M4arc
08-30-10, 13:17
simple demonstration of what happens to State Budget problems when pensions come into the picture:
http://www.youtube.com/watch?v=u9ieKL1OijA

That is funny! :haha:
austinN4
08-30-10, 13:35
That is funny! :haha:
And also very, very true!
VooDoo6Actual
08-30-10, 14:13
Stick a fork in CA. for it is DONE.
Collegefour
08-31-10, 05:35
Thank goodness Colorado has its head on straight. There is a balanced budget amendment in CO, and the state pension fund (PERA) works very closely with legislators to make sure the fund is always fully solvent. The hard times have hit CO public employees as well as private employees. CO public employees have seen their share of contributions to the fund rise at the same time that benefit decreases are being instituted to keep the fund solvent. These are the same things that Schwartzenegger is talking about doing, but apparently in CA things work a bit differently.
Littlelebowski
08-31-10, 14:32
Public service unions (police, public workers, firefighters) are parasites that are too stupid to realize that they're killing their host.

I realize that the LEO mafia will charge me with being a "cop hater" because I dared to say something about LEO unions. Got a problem? Man up and PM me.
bkb0000
08-31-10, 14:39
Thank goodness Colorado has its head on straight. There is a balanced budget amendment in CO, and the state pension fund (PERA) works very closely with legislators to make sure the fund is always fully solvent. The hard times have hit CO public employees as well as private employees. CO public employees have seen their share of contributions to the fund rise at the same time that benefit decreases are being instituted to keep the fund solvent. These are the same things that Schwartzenegger is talking about doing, but apparently in CA things work a bit differently.

indeed.. Oregon law requires a balanced budget as well.

and yet we're still starting to sink... odd.
JackOSU
08-31-10, 15:11
Public service unions (police, public workers, firefighters) are parasites that are too stupid to realize that they're killing their host.

I realize that the LEO mafia will charge me with being a "cop hater" because I dared to say something about LEO unions. Got a problem? Man up and PM me.

Don't forget the "innocent teachers" as well!
SHIVAN
08-31-10, 15:51
I realize that the LEO mafia will charge me with being a "cop hater" because I dared to say something about LEO unions. Got a problem? Man up and PM me.

You can discuss public service unions, and certainly point out that LE unions are one that is hurting California, but calling on people to interact with you in a specifically negative manner is unsatisfactory.

You are instigating. I have a problem with it. Please stop. Thanks.
Littlelebowski
08-31-10, 15:51
You can discuss public service unions, and certainly point out that LE unions are one that is hurting California, but calling on people to interact with you in a specifically negative manner is unsatisfactory.

You are instigating. I have a problem with it. Please stop. Thanks.

Understood. PM sent.