Gasoline on the Pension Fire
Farsighted state employees are realizing that state pension benefits are an illusion. Nowhere in the world does any government match the pension benefits as California state employees. However, many economists are warning that as billions and billions that will become due, those employees will get stiffed.Consider San Diego on steroids.
So what to do? Bring in financial experts in a special commission.
Would you hire a person who publicly opposed the Recall that got this Governor elected, who nearly bankrupted the Republican Party, who personally stiffed RNC funds for the nearly successful McClintock comptroller campaign in 2002, who testified against the GOP pension fix in 2005, presided over the scandalous UC payroll cover-up,was sued by Treasury Secretary William Simonand has a blatant conflict of interest because hemakes millions managing CalPERS money?
The choice of Parsky is laughable throughout California and extending to Washington where Parsky tried but failed to impose himself as Secretary of Treasury.
Goodness knows that this post employment benefits commission is doomed before it starts.… Read More