California's new problem: Too much money

[JGC97]

Originally Posted by Curmudgeon

I sincerely hope not, being as my wife and I are two of them! But then again, ya never know.

I hope not, as well. I should have phrased it better. I didn't mean to offend you. I'm sorry.

While this thread is supposed to be about California having too much money now, the truth is, they don't. And they won't in the future and the biggest reason is pensions. Even thought the governor signed the new pension reform, taxes will have to go up again to continue paying current retirements and future retirements. It's not just the state, though. City and county government are in the same mess.

Example: Both Vallejo and Stockton had to file bankruptcy. In doing that, they stopped paying health care premiums for its retirees, in order to save pensions. Big uproar from those retirees saying, "but you promised you would pay for my health care after retirement!" Is that wrong? No, it's not. Why should government pay health care for people who are no longer working in the system?

The point is, the government cannot continue to pay these benefits from taxpayer money, without it affecting the rest of the community and without seeing more tax increases. So while this surplus of money may be there today, it won't be there tomorrow.

How Much Could California’s Government Pensions Cost Taxpayers? | California Public Policy Center

http://calpensions.com/2013/04/29/pr...this-the-year/

[Curmudgeon]

Originally Posted by HereOnMars

I hope not, as well. I should have phrased it better. I didn't mean to offend you. I'm sorry.

Not to worry. No offense taken. We're in our mid- to late-60s so just naturally our days are numbered. Happy to help!

[JGC97]

You'll probably outlive me.

[Marv101]

The ludicrous bullet train has to be terminated; the projections for ridership will never be reached in a state with an unemployment rate as high as ours, and it will never be priced competitively with current airfares between LA and the Bay Area.

With soaring numbers of people living in poverty as well as folks on welfare (one-third of the entire nation's welfare recipients live here) in a state which has lost over 3,5000,000 residents in the past 20 years according to Joel Kotkin, as well as the nonstop whining about Prop. 13, which has been really old for over 20 years.

And then there's the problem with pensions, and ObamaCare, and ........

[nullgeo]

Originally Posted by Marv101

The ludicrous bullet train has to be terminated; the projections for ridership will never be reached in a state with an unemployment rate as high as ours, and it will never be priced competitively with current airfares between LA and the Bay Area.

With soaring numbers of people living in poverty as well as folks on welfare (one-third of the entire nation's welfare recipients live here) in a state which has lost over 3,5000,000 residents in the past 20 years according to Joel Kotkin, as well as the nonstop whining about Prop. 13, which has been really old for over 20 years.

And then there's the problem with pensions, and ObamaCare, and ........

Yes, speaking of non-stop whining ....