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Like the rest of California, thanks to pension funds and bad economic decisions, Stanislaus County is about to go belly up. Not a surprise.
"Eight years after giving a major boost in pension benefits to employees, Stanislaus County is trying to keep from getting buried in retirement costs.
The pension system for the county and several smaller agencies is only 71 percent funded, creating an unfunded liability of $482 million. That is coupled with nearly $48 million in bond debt -- a collective shortfall more than twice the size of the county's general fund budget."
Stop blaming the "recession" for this problem. AB 32, high taxes, amateurs running our Capitol, failed schools, unions controlling government, have all contributed to the problem--the recession was caused by bad government decisions--like the Feds forcing banks to give home loans to illegal aliens and others everybody knew could not pay back the loans.
This may be the first government caused Depression in history---sadly, thanks to Arnold, Obama and the Democrats; we will stay in a Depression for a long time.
More...
"Eight years after giving a major boost in pension benefits to employees, Stanislaus County is trying to keep from getting buried in retirement costs.
The pension system for the county and several smaller agencies is only 71 percent funded, creating an unfunded liability of $482 million. That is coupled with nearly $48 million in bond debt -- a collective shortfall more than twice the size of the county's general fund budget."
Stop blaming the "recession" for this problem. AB 32, high taxes, amateurs running our Capitol, failed schools, unions controlling government, have all contributed to the problem--the recession was caused by bad government decisions--like the Feds forcing banks to give home loans to illegal aliens and others everybody knew could not pay back the loans.
This may be the first government caused Depression in history---sadly, thanks to Arnold, Obama and the Democrats; we will stay in a Depression for a long time.
More...