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Everyone considers Lou Correa a Democrat State Senator from Orange County, a real conservative Democrat--a nice guy that even Republicans can support. This is what he co-authored, SB 400, in 1999 while an Assemblyman.
"A 17-page CalPERS sales brochure told legislators a decade ago that a major increase in state worker pension benefits would not increase state costs, but annual state payments to the pension fund have soared from $159 million to $3.9 billion since then.
The professionally designed pamphlet apparently helped build a persuasive case in 1999 for SB 400, which sailed through the Senate on a 39-to-0 vote and passed the Assembly 70-to-7.
But now Gov. Arnold Schwarzenegger wants to roll back pensions for new state hires to pre-SB 400 levels. The governor with only a half year left in office has said he wont sign a new state budget without pension reform."
He either lied or is an economic illiterate. Either way, our State is in the midst of a massive collapse due to his actions.
On November 2, 2010 we need regime change in Sacramento, as well as in Washington.
More...
"A 17-page CalPERS sales brochure told legislators a decade ago that a major increase in state worker pension benefits would not increase state costs, but annual state payments to the pension fund have soared from $159 million to $3.9 billion since then.
The professionally designed pamphlet apparently helped build a persuasive case in 1999 for SB 400, which sailed through the Senate on a 39-to-0 vote and passed the Assembly 70-to-7.
But now Gov. Arnold Schwarzenegger wants to roll back pensions for new state hires to pre-SB 400 levels. The governor with only a half year left in office has said he wont sign a new state budget without pension reform."
He either lied or is an economic illiterate. Either way, our State is in the midst of a massive collapse due to his actions.
On November 2, 2010 we need regime change in Sacramento, as well as in Washington.
More...