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.
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.
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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.
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!
If they are smart the parents will move to another state and let someone else pick up the tab!
Some people are just,,,what is it, “You can t fix stupid.” 2014, ladies and dudes, the shinola is going to hit the fan..
The number you show above is $1,126 trillion.
Don’t scare us more than is necessary.
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.
The debt is at least $1.5 trillion, and growing larger everyday. 🙂