As the rest of the country benefits from President Trump’s economy, one place suffers. California. Thanks to its super-liberal leadership, the once great state is hitting hard times. It comes as wildfire scorch much of the state and mudslides wipe out what’s left of it.
The state would be in a better place, if it had conservative leadership. Instead they have out-of-control liberals, who spent their money on government handouts and other wasteful programs. Their democratic lawmakers have neglected much-needed concerns, in favor of terrible, liberal policies.
Now we are learning that it’s not just California citizens who are going to suffer. People who worked for the state for years are now going to get punished.
California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments…
That would be a major shift in California, where municipal officials have long believed they couldn’t adjust the benefits even as they struggle to cover the cost. They have raised taxes and dipped into reserves to meet rising contributions. The California Public Employees’ Retirement System, the nation’s largest public pension, has about 68 percent of assets needed to cover its liabilities. For the fiscal year beginning in July, the state’s contribution to Calpers is double what it was in fiscal 2009.
Across the country, states and local governments have about $1.7 trillion less than what they need to cover retirement benefits — the result of investment losses, the failure by governments to make adequate contributions and perks granted in boom times.
“In the next downturn, when things look pretty dire, that would be one of the items on the chopping block,” Brown said.
Oh, that’s on the chopping block, Jerry? Not the fund you use to shield illegal aliens? Or the cash you burn for government handouts to people who refuse to work? You protect criminals, free loaders, and outsiders. But the people who worked for years to make California a better place? Cut them off!
It’s amazing to see how out of whack liberal priorities are. Last year, the California was considering creating a state-run health care system. It would have cost them $400 billion (to start). Yet they don’t even have the money to pay their retired workers’ pensions. Talk about irresponsible.
How much money do they shell out giving benefits to illegals? How much cash is spent supporting the freeloaders in San Francisco? Where did all the money go, Jerry? If they can’t pay these pensions, perhaps an investigation is in the works. Perhaps these democrats have been padding their own pockets all these years.
Regardless of the reason, it’s a crime for California to cut off their retirees’ pensions. These people worked for those benefits. They were committed to the state. Now, when they are in need, Jerry Brown wants to drop them.
I can’t imagine how a governor could do that.