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For more than three years the California Political News and Views has been writing about the coming implosion of the State pension systems. Now, our Democrat Treasurer is doing the same.
Its impossible for this Legislature to reform the pension system, and if we dont it will bankrupt the state, is the Lockyer quote jotted down by one observer.
In an interview later, the treasurer said his use of the word bankrupt was intended to be provocative and theatrical, which he thought was probably understood by his audience."
And, he adds that the health care promised can not be provided. "My general view of the pensions is that the current benefits that have been promised are probably hard to maintain and the (retiree) health benefits that have been promised are impossible to maintain, he said."
Now you know why California will be in a permanent state of Depression for a generation. We are in trouble and refuse to fix the problems.
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Its impossible for this Legislature to reform the pension system, and if we dont it will bankrupt the state, is the Lockyer quote jotted down by one observer.
In an interview later, the treasurer said his use of the word bankrupt was intended to be provocative and theatrical, which he thought was probably understood by his audience."
And, he adds that the health care promised can not be provided. "My general view of the pensions is that the current benefits that have been promised are probably hard to maintain and the (retiree) health benefits that have been promised are impossible to maintain, he said."
Now you know why California will be in a permanent state of Depression for a generation. We are in trouble and refuse to fix the problems.
More...