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Too bad the author of this column, Michael McDaniel, is not in the legislature or the Governor. He understands that the public employee pension plan is about to destroy local government and the State.
"It is estimated that Nevada County's "miscellaneous employee" pension plan (which does not include public safety employees) is underfunded by $87,866,218.
To put this amount into prospective, the total expected operating budget for Nevada County for 2009-10 totals approximately $185 million and total tax revenues are expected to be shy of $43 million
in 2009-10."come the norm.
As cities and counties pay for their sweetheart pension plans with unions, cuts of 25% in services and massive tax increases will be another reason to reserve your U-Haul.
More...
"It is estimated that Nevada County's "miscellaneous employee" pension plan (which does not include public safety employees) is underfunded by $87,866,218.
To put this amount into prospective, the total expected operating budget for Nevada County for 2009-10 totals approximately $185 million and total tax revenues are expected to be shy of $43 million
in 2009-10."come the norm.
As cities and counties pay for their sweetheart pension plans with unions, cuts of 25% in services and massive tax increases will be another reason to reserve your U-Haul.
More...