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In fifteen years San Diego will pay triple in pension outlays. It will go from $150 million to $520 million.
What will the city cut to pay that much? Will they attempt to raise taxes? Maybe the air tower at Lindberg Field could have murals selling cars painted on the sides?
"Appearing on KUSI, DeMaio argued against increasing the sales tax to offset pension costs. Even after increasing the sales tax by half a cent and collecting an estimated $103 million annually, he said the city still wouldn't have enough money to overcome future pension costs. "No tax is big enough to feed that monster," DeMaio said."
The bigger question is why the "professionals" running the pension system called Councilman DeMaio a liar? Could it be that they are concerned the facts will frighten the public if they knew the government pension plan was unsustainable.
We are close to cities and the State collapsing under the weight of pension plans. Before the next Governor runs for re-election the whole pension system in California will tank. Where is the leadership?
More...
What will the city cut to pay that much? Will they attempt to raise taxes? Maybe the air tower at Lindberg Field could have murals selling cars painted on the sides?
"Appearing on KUSI, DeMaio argued against increasing the sales tax to offset pension costs. Even after increasing the sales tax by half a cent and collecting an estimated $103 million annually, he said the city still wouldn't have enough money to overcome future pension costs. "No tax is big enough to feed that monster," DeMaio said."
The bigger question is why the "professionals" running the pension system called Councilman DeMaio a liar? Could it be that they are concerned the facts will frighten the public if they knew the government pension plan was unsustainable.
We are close to cities and the State collapsing under the weight of pension plans. Before the next Governor runs for re-election the whole pension system in California will tank. Where is the leadership?
More...