Posts Tagged ‘Stockton’

BK judge slams taxpayers on Stockton pensions

Sunday, November 2nd, 2014
Lifestyles_of_the_Rich_&_Famous

In boon to public pensioners and a shock to taxpayers throughout California, federal Judge Christopher M. Klein approved a bankruptcy plan to put Stockton city retirees at the top of the heap. That means taxpayers are at the bottom. Also stiffed will be bondholders. That puts at risk other munic...

Pension spikes crumbling CA roads

Friday, October 31st, 2014
Los Angeles traffic jam, wikimedia

From roads to bridges and well beyond, California's neglected infrastructure won't receive relief this election cycle. For years, the state has lavished money on other projects -- especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions place on...

Voters face pension-reform decisions

Tuesday, October 14th, 2014

In a series of contests playing out at the state and local levels, Golden State voters will cast votes this November that could reshape the pension landscape for years to come. Races have attracted attention for offices that exercise direct influence over the institutions that set pension pol...

Post-Stockton, Democrat job-retention myth certain to be exposed

Friday, October 3rd, 2014
job.retention

Both parties have bogus canards that they trot out when convenient. The worst example of this among Republicans is the idea that tax cuts always pay for themselves -- that they lead to higher revenue. It could well be true for capital gains taxes and any other taxes that discourage investment or rei...

Stockton ruling, like Vergara ruling, shakes CA status quo

Thursday, October 2nd, 2014
union-corruption

Californians who think the state status quo is nuts and that public employees amount to a protected class of citizens have gotten unexpected help this year from the state and federal courts. First came Los Angeles Superior Court Judge Rolf True's ruling that teacher tenure laws are unconstitution...

Pension follies: New Jersey adopts insane San Diego approach

Tuesday, April 1st, 2014
wimpy

California leads the way when it comes to government pension dysfunction. The first big city to be stricken by pension costs in the U.S. was San Diego, leading to the memorable 2004 New York Times' description of it as "Enron by the Sea." Since then, three cities in the Golden State have either e...

San Jose Mayor Reed folds on pension initiative

Wednesday, March 19th, 2014

In a disappointing indicator of the challenges facing public pension reform, outgoing San Jose Mayor Chuck Reed has shelved his statewide ballot initiative designed to address the problem. The mayor blames a time crunch and unappealing language used in Attorney General Kamala Harris' ballot summa...

CalPERS rate hike slams cities

Wednesday, February 19th, 2014
Calpers logo

Californians are finding out how Gov. Jerry Brown is going to deal with the state's pension crisis: make the taxpayers pay for it. This from CalPensions: A divided CalPERS board yesterday approved a faster rate hike for the state urged by Gov. Brown, but opposed by unions. A proposal to give strugg...

Faulconer election won’t stop ‘Los Angelization’ of San Diego politics

Monday, February 10th, 2014

On Tuesday, San Diego voters will decide between two City Council members in a special election to fill the remaining 33 months of the mayoral term of disgraced, resigned Bob Filner. The early conventional wisdom was that the clear favorite was Republican Kevin Faulconer, 47, the longest-serving ...

PRI report examines bankruptcy as tool for struggling cities

Thursday, January 16th, 2014

The Pacific Research Institute has released a report that couldn't be more timely. "Going Broke One City at a Time: Municipal Bankruptcies in America" by economist Wayne H. Winegarden. buy a paper if (1==1) {document.getElementById("link4533").style.display="none";} One of Winegarden's ...