Opinion: Controller John Chiang drops bombshell on California public pensions.
Chiang added public pension systems to his already large fiscal database. One chart reveals that their “unfunded liabilities” – the gap between assets and liabilities for current and future pensions – exploded from $6.3 billion in 2003 to $198.2 billion in 2013.
But somehow California can afford Jerry Brown’s boondoggle Choo-Choo to Nowhere.
This post was last modified on January 31, 2021
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The biggest fail is CalStars, the TEACHERS retirement fund. They have been seriously under paying for a couple decades, but no one in Sacramento has noticed since they get all that money from the California Teachers Association... So I wonder who is gonna take the fall for this? I bet our Taxes go up and California's rainy day fund gets dried out. One party system, works just F*cking great...
Don't worry. The powers in Sacramento will just look to Capital Hill for a bailout. The rest of America will pay CA's pension liabilities.
You are right, I am sure with Piglosi leading the way, and Boxer and Sweinstein bringing up the rear, Ass Clown Jerry Brown will get bucks from King Obutthead the 1st..Then everyone everywhere can share the pain of another democrat FAIL.
Let's see, unfunded liabilities exploded from 2003 to 2014. What else happened during that period? Oh yeah, November of 2003 is when Ah-nold was sworn into office as governor, followed by Monnbeam in January of 2011. Probably just a coincidence that two idiots have been in charge over that period...
If you noticed, Jerry Brown had to have an assistant mark the ballot while voting.
Moonbeam has never been long on brains, could be just motor skills are deteriorating.
Whenever he has an unscripted moment he struggles to find a basic sentence.
The harsh reality of math has caught up to the California Democrat party.
I sincerely doubt that reality will intrude on the Kalifornia Dems. They have lived in La La land too long and won't face any kind of reality any time soon. Now with all the new "legal" illegals, they will have soo much more revenue that they can raise spending some more. Facing facts is for someone else.
When the assholes in charge learn to use real math instead of common core math the problem should solve itself.