BTW, the UNFUNDED pension debts of both CalTURDS and CalSTRS are in a death spiral, under the 50% funded level, and IMO will not be able to recover-especially when all these 3%@50 pensions start flooding the system over the nest 30-40 years.

The death spiral will simply not be able to be cured, it will actually get worse. CalSTRS is under 50% and cannot raise the contributions on its own. CalTURDS is also under 50% and CAN raise contributions, but if they do the member muni’s will simply file BK, Detroit style, and that will be the end of it. Once one member muni is successful in filing BK and cutting the CalTURDS pension problem out of its future then all the others will only have to THREATEN to file BK, and the threat alone will force CalTURDS to renegotiate the pensions, going forward and ones already accrued.

Teddy agreeing with himself, what a shock 😉

Teddy, can you please post a comment worth reading, you pollute just about every threads here 😉

“The fact that so many so-called educated Americans have been brainwashed into believing that amnesty and spending billions of taxdollars on unskilled illegal indigent foreigners is a good thing fascinates them.”

We MUST protect OUR OWN citizens who lack high level skills from illegals who want to take those jobs and work them for peanuts.

The ‘dog will not be happy until all state spending is eliminated. And then you’ll bitch because it wasn’t done sooner

NO, what we, ALL CONCERNED CITIZENS, want is a way to get out of the $650 BILLION hole Davis, and the rest put us in