CalSTRS ‘baby’ owes $29,632 already

May 8, 2013

By John Seiler

As Ed Ring notes today, the state of California has run up a “Wall of Debt” of $1.126 trillion. That’s $1,126,000,000,000,000.00.

There are 38 million Californians. So it comes to $29,632 per person, including newborn babies.

A large chunk of that debt has been run up by the California Teachers’ Retirement System. According to a March 20 report by the Legislative Analyst, CalSTRS alone suffers “Unfunded Liabilities of About $70 billion.”

But look what CalSTRS features on the front of its Web page: a picture of a little baby, just starting out on life in California.

CalSTRS front web page, May 8, 2013

Supposedly the baby somehow is helped by CalSTRS. Strangely, CalSTRS asks the baby, “How Will You Spend Your Future?”

The little baby is laughing, so he has no idea what his nightmare future will be: Working 50 years to pay off the massive debt to CalSTRS and the rest of the California Wall of Debt.


Write a comment
  1. S Moderation Douglas
    S Moderation Douglas 8 May, 2013, 14:22

    Odds are that baby will be just fine. He will live in a world beyond our imagination. 50 years from now he will be laughing about those doom and gloomers from 2013.

    Reply this comment
    NTHEOC 8 May, 2013, 14:43

    And I thought these Doom and gloomers would stop when the comet passed earth and we were all still here! Lol. Or when y2k hit!

    Reply this comment
  3. Cindy
    Cindy 8 May, 2013, 14:57

    If they are smart the parents will move to another state and let someone else pick up the tab!

    Reply this comment
  4. Sean Morham
    Sean Morham 8 May, 2013, 15:35

    Some people are just,,,what is it, “You can t fix stupid.” 2014, ladies and dudes, the shinola is going to hit the fan..

    Reply this comment
  5. econprof
    econprof 8 May, 2013, 20:25

    The number you show above is $1,126 trillion.
    Don’t scare us more than is necessary.

    Reply this comment
  6. Red in a Blue state
    Red in a Blue state 8 May, 2013, 22:11

    Jerry said the budget is balanced. He travels the world saying how rosy things are in California. If this state doesn’t get an adult to lead it soon, there will be no turning it around.

    Reply this comment
  7. Donkey
    Donkey 8 May, 2013, 22:42

    The debt is at least $1.5 trillion, and growing larger everyday. 🙂

    Reply this comment

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