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Not a college grad, eh? Each class has a certain number of units depending upon how many classroom hours it takes. So people who are trying to double major or get multiple minors can end up taking up to twice as many units as is strictly necessary to graduate. They're going to cap this so that each student can only take up to 150% of the units needed to graduate before they get forced out. That means there will be a lot less lingering in the system just taking classes because you're interested instead of because they're needed to graduate. This has both ups and downs but one of the major ups is students get in and out of the university system faster and so suck up fewer public subsidies per person.
It also keeps them from "hiding out" in the university system for years and years and years avoiding the real world or just keeping their student loan interest from starting to accrue. <shrug>
Two years after leftist Jerry Brown took over, California has a balanced budget - something that eluded Arnold for years. How did they do it? Well, it was a BALANCED approach of higher revenues and reduced spending. Revenues grew on an improved economy (thanks, Obama!) and tax increases approved by voters.
The combined unfunded liability for CalPERS, CalSTRS, and UCRP under the 6.2 percent discount rate is $290.6 billion, equal to more than three state General Fund budgets. That figure represents an unfunded amount per household of nearly $24,000. Using a low-risk, or risk-free, discount rate, the combined unfunded liability for these three systems reaches $497.9 billion, or 17 percent more than that calculated in 2010.5
and in the meantime
Quote:
His budget includes a surplus of $850 million.
These idiots are praising Obama and celebrating an $850 surplus against an unfunded liability of $497.9 billion? What kind of mushrooms is Moonbeam consuming anyway?
Are there really people so stupid they believe this garbage spewed out by MSNBC?
They are acting like the unemployed family of four living in a house with an upside down mortgage, credit cards maxed out, no job prospects and a mountain of bounced checks celebrating they found $1.26 in loose change under the seat cushions of the sofa.
Not a college grad, eh? Each class has a certain number of units depending upon how many classroom hours it takes. So people who are trying to double major or get multiple minors can end up taking up to twice as many units as is strictly necessary to graduate. They're going to cap this so that each student can only take up to 150% of the units needed to graduate before they get forced out. That means there will be a lot less lingering in the system just taking classes because you're interested instead of because they're needed to graduate. This has both ups and downs but one of the major ups is students get in and out of the university system faster and so suck up fewer public subsidies per person.
Well, I am a college graduate (and law school too), but back in the 1970s/early 80s in Texas we had 'hours', with a full load being 18 hours per semester. I believe that for a four-year degree you had to earn 120 hours.
I did know 'professional students' who would take 9 hours (I think the minimum per semester) and so linger.
These idiots are praising Obama and celebrating an $850 surplus against an unfunded liability of $497.9 billion? What kind of mushrooms is Moonbeam consuming anyway?
Are there really people so stupid they believe this garbage spewed out by MSNBC?
They are acting like the unemployed family of four living in a house with an upside down mortgage, credit cards maxed out, no job prospects and a mountain of bounced checks celebrating they found $1.26 in loose change under the seat cushions of the sofa.
In fairness, this is a step in the right direction as they have staunched the bleeding.
MOST states have relatively large unfunded liabilities although CA has one of the bigger ones.
It's due to the states not having to pre-fund the public pension and medical plans.
In Illinois it has gotten bad enough that they've had talks of reducing those pensions etc.
So, in this case CA has taken a step in the right direction. Those unfunded liabilities were created over the past 50-60 years and are going to take a loooong time to address.
Well, I am a college graduate (and law school too), but back in the 1970s/early 80s in Texas we had 'hours', with a full load being 18 hours per semester. I believe that for a four-year degree you had to earn 120 hours.
I did know 'professional students' who would take 9 hours (I think the minimum per semester) and so linger.
Thanks for the explanation.
Ditto, I wasn't 100% sure what they meant either and it could even be a regional thing.
We had the same 120 hours thing that you describe and that was in the early 90's.
Two years after leftist Jerry Brown took over, California has a balanced budget - something that eluded Arnold for years. How did they do it? Well, it was a BALANCED approach of higher revenues and reduced spending. Revenues grew on an improved economy (thanks, Obama!) and tax increases approved by voters.
And if you believe this, the check is in the mail and I have some beachfront property in Kansas to sell you. The budget in this state is no where NEAR balanced. There are tons of what ifs, and if this occurs, and if that occurs, and if this occurs, we might just balance the budget. When? In 10 years...
Two years after leftist Jerry Brown took over, California has a balanced budget - something that eluded Arnold for years. How did they do it? Well, it was a BALANCED approach of higher revenues and reduced spending. Revenues grew on an improved economy (thanks, Obama!) and tax increases approved by voters.
[URL="http://www.cnbc.com/id/100370444"]Gov. Brown: California's Budget Deficit Is Gone![/URL]
And when the rediculously-hight revenue projectionis fall on their face, I suppose another post will emerge from the ruins retracting the foolishly-naive one here.
As a California resident since mid '80s I can tell you California's revenue problem stems from an excessive reliance on revenue from the weathy, whose income varies dramatically from year to year, and who are very "mobile" in structuring their affairs to avoid predatory tax policy.
I think they made a good balance of decisions considering the dire condition the state is in.
He said in the OP that both spending cuts and tax increases were implemented so why did you claim he didn't? I also agree that they made a good choice to do both spending cuts and tax increases but I disagree that the state was ever in a "dire condition". It's budget was virtually balanced before the real estate bubble popped and even during the worst of the recession it's deficit was never worse than 25th out of 50 states while it's debt to GDP ratio is also in the top half of states. In short, the state has always been better than the national average when it comes to debt and deficits and the right wing claims other wise have always been 100% made up BS.
These idiots are praising Obama and celebrating an $850 surplus against an unfunded liability of $497.9 billion? What kind of mushrooms is Moonbeam consuming anyway?
Ahh, the typical right wing game of half truths and misdirection. They total up the total pension debt of every city and county in the state and then pretend it is some how the state's obligation, which it is not. BTW that is the projected total cost of all pensions for the next HALF CENTURY for every state and local entity in the entire state. The yearly costs are extremely manageable and this level of dishonesty just makes your side less creditable.
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