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Old 01-08-2013, 06:36 PM
 
Location: In them thar hills
7,879 posts, read 9,568,337 times
Reputation: 4009
This is the tip of the iceberg.

Most Bay Area communities are structurally untenable.

This will get a lot worse.
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Old 01-08-2013, 07:47 PM
 
14,087 posts, read 11,723,568 times
Reputation: 9950
Quote:
Originally Posted by BayAreaHillbilly View Post
This is the tip of the iceberg.

Most Bay Area communities are structurally untenable.

This will get a lot worse.
That could be true. SJ actually still has a good bond rating at "AA", although it was downgraded from AAA to AA1.

I was surprised to read San Francisco's bond rating is under review for an upgrade, from its current AA2.

http://www.sfexaminer.com/local/2012...s-other-cities

Oakland's is mediocre A+ (Moody's equivalent is A1), with a stable outlook.

http://www.bondsonline.com/Todays_Ma...view&RID=26823
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Old 01-09-2013, 01:19 PM
 
1,030 posts, read 1,539,809 times
Reputation: 759
Quote:
Originally Posted by BayAreaHillbilly View Post
This is the tip of the iceberg.

Most Bay Area communities are structurally untenable.

This will get a lot worse.
Yes, and the unions won't be able to use the benefits of one city as leverage for another. The Police job is a dangerous one and the people working in it should be well compensated, but letting them retire at 50 with high pensions for life is ridiculous.
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Old 01-09-2013, 02:21 PM
 
14,087 posts, read 11,723,568 times
Reputation: 9950
Quote:
Originally Posted by roadwarrior101 View Post
Yes, and the unions won't be able to use the benefits of one city as leverage for another. The Police job is a dangerous one and the people working in it should be well compensated, but letting them retire at 50 with high pensions for life is ridiculous.
Exactly.
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Old 01-18-2013, 03:05 AM
 
46 posts, read 32,313 times
Reputation: 36
Quote:
Originally Posted by roadwarrior101 View Post
Yes, and the unions won't be able to use the benefits of one city as leverage for another. The Police job is a dangerous one and the people working in it should be well compensated, but letting them retire at 50 with high pensions for life is ridiculous.

Why? I wanna get 50% when I retire, don't you??? When you retire, is your cost of living going to be reduced by 50%...just because you're retired? Many professionals have received pensions of this nature for generations. Why do you want to start screwing people now?
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Old 01-18-2013, 10:27 AM
 
1,030 posts, read 1,539,809 times
Reputation: 759
Quote:
Originally Posted by tempest411 View Post
Why? I wanna get 50% when I retire, don't you??? When you retire, is your cost of living going to be reduced by 50%...just because you're retired? Many professionals have received pensions of this nature for generations. Why do you want to start screwing people now?
Sure, I want a million dollars too. But, I don't see taxpayers footing my bill. I am saving like crazy for retirement in my 401k and may have some money from Social Security, which I have been contributing to for my entire working career.

How is this screwing government workers? Aren't they screwing us by taking these huge pensions that are bankrupting cities and other governments?
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