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Richmond, California due to union bribes spending 50 million a year now for pension obligations and "anticipates another 50% increase in the next half decade"
Looks like it could go into bankruptcy soon, this while certain crimes are spiraling out of control in that city.
Doesn't look like the police are pay based on performance as they average more then $137,000 a year.
Love, how these cities just ignore all these unfunded pension obligations, while projecting insane 7%+ returns year after year as if it there isn't a huge equity bubble already.
I honestly can't wait until it all comes crashing down on these cities for promises that were based on false, optimistic numbers and unions bribes. They should have just had a 401k plan all-along then they could have 50 million more per year to spend on the city services like those $137,000 a year police officers.
I looked in depth at this city. Bordering on illegal fraud and corruption. There are many fire and police officers making +350k/yr in salary and benefits.
Richmond, California due to union bribes spending 50 million a year now for pension obligations and "anticipates another 50% increase in the next half decade"
Looks like it could go into bankruptcy soon, this while certain crimes are spiraling out of control in that city.
Doesn't look like the police are pay based on performance as they average more then $137,000 a year.
Love, how these cities just ignore all these unfunded pension obligations, while projecting insane 7%+ returns year after year as if it there isn't a huge equity bubble already.
I honestly can't wait until it all comes crashing down on these cities for promises that were based on false, optimistic numbers and unions bribes. They should have just had a 401k plan all-along then they could have 50 million more per year to spend on the city services like those $137,000 a year police officers.
States cannot legally file for bankruptcy, but then again this is California.
Richmond, California due to union bribes spending 50 million a year now for pension obligations and "anticipates another 50% increase in the next half decade"
Looks like it could go into bankruptcy soon, this while certain crimes are spiraling out of control in that city.
Doesn't look like the police are pay based on performance as they average more then $137,000 a year.
Love, how these cities just ignore all these unfunded pension obligations, while projecting insane 7%+ returns year after year as if it there isn't a huge equity bubble already.
I honestly can't wait until it all comes crashing down on these cities for promises that were based on false, optimistic numbers and unions bribes. They should have just had a 401k plan all-along then they could have 50 million more per year to spend on the city services like those $137,000 a year police officers.
OP, you live in AZ and yet you're here bashing CA? Were you originally a CA resident or what?
How about you bash AZ's HORRENDOUS lack of public education funding or our economy full of low wage slow growth jobs where people can't even afford to live in a low COL area? Is that what makes AZ the best state ever? Worry about your own state's problems and let CA deal with theirs.
You can bash all you want but CA has a way more innovative and productive economy than AZ so you have nothing to defend except pick on the $137k officers or pensions which is miniscule in comparison. Pick on someone your own size.
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