Comments on: No spare change under the dome https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/ Tue, 21 May 2013 19:25:46 +0000 hourly 1 By: Donkey https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/#comment-11788 Tue, 21 May 2013 19:25:46 +0000 http://www.calwatchdog.com/?p=42955#comment-11788 Katy, Ntheoc doesn’t have the ability to do the math calculations!! 🙂

]]> By: CalWatchdog https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/#comment-11787 Mon, 20 May 2013 21:45:18 +0000 http://www.calwatchdog.com/?p=42955#comment-11787 NTHEOC – your analogy is irrelevant. Home purchasers must first qualify, and then agree to pay back the mortgage, as well as interest on the borrowed money. And, they cannot continue to kick the mortgage out into the future indefinitely while increasing the size of the debt.

Taxpayers have no say on how much money the unions and state negotiators promise to union members, or even whether it is possible.

By offering more generous pension benefits rather than higher wages, lawmakers can maintain the appearance of existing spending levels, albeit by shifting today’s employee compensation costs into the future.
And, such bargaining can take place without any explicit commitment of resources.

Katy

]]> By: NTHEOC https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/#comment-11786 Mon, 20 May 2013 20:00:32 +0000 http://www.calwatchdog.com/?p=42955#comment-11786 Pension Unfunded Liability
The budget also says, “Beginning in 2015-16, the state will begin to pay hundreds of millions of dollars more to the California Public Employees’ Retirement System to help pay down the $38.5 billion unfunded liability for employees’ pensions.”
—————————
There’s that right wing mythical phrase again,”Unfunded liability”!! You could say the same thing about every homeowner in the nation with a mortgage if it became due all at once. Sorry, it doesn’t work that way!!!

]]> By: Hondo https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/#comment-11785 Mon, 20 May 2013 16:39:07 +0000 http://www.calwatchdog.com/?p=42955#comment-11785 You notice that the budget waits till Jerry Clown leaves office to begin to pay into the unfunded pension liabilities.
There is going to be epic cuts to schools and public safety and to welfare and to services in general in a few years. Jerry Clown and the dem leadership put off paying the states bills till after most of them leave office and or are term limited. They will start collecting their pensions just as the crisis goes nuclear.
All the math adds up to a horrific bankruptcy.
See Detroit.
Kalifornia Barbie says, ‘math is hard’.
Hondo….

]]> By: Queeg https://calwatchdog.com/2013/05/20/no-spare-change-under-the-dome/#comment-11784 Mon, 20 May 2013 14:53:20 +0000 http://www.calwatchdog.com/?p=42955#comment-11784 Never sweat the big stuff! They gloom articles over and over again while the sky never falls….just relax…go to work…get promoted…pay more taxes….the California way!

]]>