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Poor Arnold--for the past five years his gift to California has been $100 billion in deficits--out of control spending, AB 32 to lose us jobs, highest taxes in the nation.
Now, though facing a real deficit of $40 billion--and no budget till after Labor Day at the earliest, CalPers is giving him a gift--a $700 million invoice to keep the pension plan open. Without the money, retirees will not get their monthly checks.
"California's troubled, giant public pension fund is preparing to seek an additional $700 million from the state and school districts, after postponing a decision last month because of concerns about the state's massive budget deficit.
The staff at the California Public Employees' Retirement System is recommending the increase, and the pension fund board is set to reconsider it Tuesday. Several board members including state Treasurer Bill Lockyer, who questioned the move last month now are in favor of it."
The right thing to do? This means $700 million cut from schools, roads, public safety. How much will they need next year and the year after? At what point do our politicians realize and admit their policies have bankrupted the State of California.
When will you care? Importantly, what are you going to do about it? Angry yet? Remember in November.
More...
Now, though facing a real deficit of $40 billion--and no budget till after Labor Day at the earliest, CalPers is giving him a gift--a $700 million invoice to keep the pension plan open. Without the money, retirees will not get their monthly checks.
"California's troubled, giant public pension fund is preparing to seek an additional $700 million from the state and school districts, after postponing a decision last month because of concerns about the state's massive budget deficit.
The staff at the California Public Employees' Retirement System is recommending the increase, and the pension fund board is set to reconsider it Tuesday. Several board members including state Treasurer Bill Lockyer, who questioned the move last month now are in favor of it."
The right thing to do? This means $700 million cut from schools, roads, public safety. How much will they need next year and the year after? At what point do our politicians realize and admit their policies have bankrupted the State of California.
When will you care? Importantly, what are you going to do about it? Angry yet? Remember in November.
More...