The pension gap; California is an asshole

[gotbeer]

The pension gap

 

I should have become a public servant.  California is on the crazy train to bankruptcy.

[Spirit]

CaLOLifornia 

 

 

 

[AngelsLongBall]

Man, fuck this state. This has been a constsnt source of frustration for years. And no one has the balls to stand up to the unions. They're ride or die, and will take the entire ship down

[Tank]

This year, state employee pensions will cost taxpayers $5.4 billion, according to the Department of Finance. That’s more than the state will spend on environmental protection, fighting wildfires and the emergency response to the drought combined.

And it’s more than 30 times what the state paid for retirement benefits in 2000, before the effects of the new pension law, SB 400, had kicked in, according to data from the California Public Employees’ Retirement System.

[Adam]

Well my 401K grew 1.7% last quarter so....

[Glen]

If I live to retirement age I'll be set, assuming whomever is president next doesn't destroy the country.  I'll have military and civil service retirement, and social security.  I'll just be too old to do much with it.

[Catwhoshatinthehat]

Came across the article yesterday and when I saw it posted here my first thought was yk found it.  Here's another small article that talks about how Calpers responded to local governments that want out:

https://pjmedia.com/trending/2016/09/19/dear-govt-workers-about-those-pensions/1/

The fact that the state doesn't ever tackle these growing issues much like the feds don't do anything to seriously address SS/Medicare is why I fear our state and country unraveling from within more so than I do from outside influences.   

[gotbeer]

This is going to be like the bubble in the 2000's.  Everyone could see the problem.  Houses, doubling, trippling in price in a matter of months.  0% loans with practically no credit check.  People refinancing and buying, because on paper all these things said they could.  Then people realizing, how could someone that makes 30k a year, get $2 million in loans?  Then boom goes the dynamite.

This is what the pensions will do.  It's already affecting places like Detroit, and Illinois.  And yet it's them, can't happen to us.  Boom.

[Jay]

Our California government is busy with more pressing matters:

http://sanfrancisco.cbslocal.com/2016/09/19/cow-fart-regulation-passed-into-california-law/

Cow Fart Regulation Passed Into California Law

Gov. Jerry Brown has signed legislation that regulates emissions from dairy cows and landfills for the first time as California broadens its efforts to fight climate change beyond carbon-based greenhouse gases.

[Tank]

so are they going to give bean-o to the cows? how exactly do you go about cutting down on the number of cow farts produced?

[Spirit]

9 hours ago, Tank said:

 how exactly do you go about cutting down on the number of cow farts produced?

 

 

[wopphil]

This is what happens when we let lefties run the state for so long. When it comes to fiscal matters, they truly are brain dead.

[Amazing Larry]

Good news: We're screwed!

http://www.kersteninstitute.org/blog/stanford-universitys-pension-tracker-pegs-total-california-pension-debt-at-1-trillion-or-93000-per-california-household-in-2015-up-19-from-2014

[Lou]

On September 19, 2016 at 9:04 AM, Glen said:

If I live to retirement age I'll be set, assuming whomever is president next doesn't destroy the country.  I'll have military and civil service retirement, and social security.  I'll just be too old to do much with it.

bollox (been watching a lot of BBC lately)

you'll be able to pay for that new hip ..... in cash! 

[Blarg]

1 hour ago, Lou said:

bollox (been watching a lot of BBC lately)

you'll be able to pay for that new hip ..... in cash! 

Mexicans in the US of A watching the BBC, what has this world come to?

By the way, the Romans, at the height of their power, built Hadrian's wall to keep the English out in 122 AD. Shortly thereafter the empire started to decline.

Emperor Trump Von Clownstick is going down in history.

 

[Ordos]

4 hours ago, Blarg said:

Mexicans in the US of A watching the BBC, what has this world come to?

By the way, the Romans, at the height of their power, built Hadrian's wall to keep the English out in 122 AD. Shortly thereafter the empire started to decline.

Emperor Trump Von Clownstick is going down in history.

 

 

[gotbeer]

6 hours ago, Lawrence said:

Good news: We're screwed!

http://www.kersteninstitute.org/blog/stanford-universitys-pension-tracker-pegs-total-california-pension-debt-at-1-trillion-or-93000-per-california-household-in-2015-up-19-from-2014

LOL at the city of Irwindale.  Market Pension Debt/Household $134,907. 

What's even sadder.  New York is ranked 19th at $40,812.  But we are keeping good company with #3 at $84,353 that bankrupt state of Illinois. 

[wopphil]

This is all the fault of crooked politicians. Politicians whose campaigns have been purchased by unions, passing laws/rules that benefit those unions, at the expense of the rest of us.

[wopphil]

This is the type of issue that has created the political climate that lead to Trump being elected president. It serves to demonstrate just how vile politicians really are.

[AngelsLakersFan]

20 hours ago, wopphil said:

This is the type of issue that has created the political climate that lead to Trump being elected president. It serves to demonstrate just how vile politicians really are.

In the end there is no representation for the tax payer in our current political climate. Passing spending bills is a big win for virtually every politician and recipient organization. It's like a child with mommy's credit card with no spending limit.

[Skram]

On 12/3/2016 at 4:43 AM, Blarg said:

Mexicans in the US of A watching the BBC, what has this world come to?

By the way, the Romans, at the height of their power, built Hadrian's wall to keep the English out in 122 AD. Shortly thereafter the empire started to decline.

Emperor Trump Von Clownstick is going down in history.

 

Never heard it spun that way,  Hadrian's Wall was built as a marker that the Roman Empire would not try to expand beyond (the first emperor to end the philosophy of expanding the empire for expansions sake)., then he built a wall as a rampart to defend against raids. So you are saying that Trump needs to keep invading neighbors,  looting and subjugating them in order to not being seen as a "Clownstick?"

I see our analogy to the long slow fall of Rome much more related to the political system being used as a way to enrich the politicians and  politically protected classes, and not worry about the well-being of the country. 

[gotbeer]

Los Angeles' Pension Crisis Is Sinking The City

Just reinforcing what everyone, but the people with heads in the sand, knows.

[Adam]

https://www.bloomberg.com/news/articles/2016-12-21/california-drivers-pay-up-for-underfunded-highway-patrol-pension

[Taylor]

The LA Times is part of the lamestream media, so I no longer believe the article that this thread is about.

[Tank]

1 hour ago, Adam said:

https://www.bloomberg.com/news/articles/2016-12-21/california-drivers-pay-up-for-underfunded-highway-patrol-pension

I look forward to retiring and moving out of this moronic state.