Gov. Brown: Courts *Must* Let California Slash its Public-Sector Pensions (Los Angeles: purchase, low cost)

[SFBayBoomer]

If you think California has a pension problem, check out Texas' largest cities.

Dallas and Houston have higher pension liabilities (as %) than Los Angeles.
Dallas, Houston, Austin and San Antonio have higher pension liabilities (as %) than San Francisco.

Source: Moody's

[BB_210]

Originally Posted by Ultrarunner

Friends with a city manager now retired... the biggest concern was fiscal... paying for obligations current and future.

The belief often it is easier to kick the can down the road and by the time it crashes... all those that had a hand in it are long gone.

Lots of commercial sights are being rezoned residential and the building of residential is booming but doesn't generate the revenue of a healthy business tax base.

Local papers are starting to carry more on the pensions and projections... one said the obligation/cost increased 50% from 2014 to 2018 as many retirements hit...

The city of Oakland workers went on strike over wages, pensions and healthcare... this was recent.

This is the real sad part. What is average Joe going to do when they start raising taxes on us. Well, be sneaky about it like usual.

[expatCA]

Originally Posted by SFBayBoomer

Since the Moody's article of 2016 states that FOUR of the TOP 15 cities with the largest pension liabilities are in TEXAS, this thread name ought to be changed.

Only Los Angeles has a super large pension liability (at 407%), and San Francisco is at the bottom of the list at 151%.

But in Texas, the following liability as % of annual operating expenses (per the Moody article) follow in red, with two California cities with large pension liabilites in blue:

Dallas 549%
Houston 414%
Los Angeles 407%
Austin 267%
San Antonio 188%
San Francisco 151%

CA will rush to catch up. They can't be beat by TX in anything.

[phantompilot]

Originally Posted by tasty wontons

Wait, you think it's "better than even odds" (aka more than 50%) likely that Amazon HQ2 will be located in states they did not include on their list than states they included on their list? Why would you think that. It makes no sense at all.

No... I meant exactly what I said. That I think those states have better than even odds, against the states I didn't exclude in my comment... which was not based on what Amazon has said about their list.

[Peasy973]

Originally Posted by SFBayBoomer

Since the Moody's article of 2016 states that FOUR of the TOP 15 cities with the largest pension liabilities are in TEXAS, this thread name ought to be changed.

Only Los Angeles has a super large pension liability (at 407%), and San Francisco is at the bottom of the list at 151%.

But in Texas, the following liability as % of annual operating expenses (per the Moody article) follow in red, with two California cities with large pension liabilites in blue:

Dallas 549%
Houston 414%
Los Angeles 407%
Austin 267%
San Antonio 188%
San Francisco 151%

LA has a history of doing bad job for its taxpayers in regards to reining its pension. LA gets the spotlight because it's California. Texas is not seen as spendy liberal state. Just look at the DROP program for the LAPD and the abuses that were recently reported there. There were even salary increases during the recession by Villaraigosa. LADWP, LAFD, LAPD, etc. all of these depts. have fiscal abuses and are basically unchecked until the economy crashes again like 2008.

It's one of the reasons I moved out of the city of LA a few years ago so I don't have to pay the foolish bond increases and tax increases which is how LA is paying for its overblown pension obligations now. Only the people left behind in the city of LA will be burdened with paying these increases.

[Tulemutt]

Originally Posted by Peasy973

LA has a history of doing bad job for its taxpayers in regards to reining its pension. LA gets the spotlight because it's California. Texas is not seen as spendy liberal state. Just look at the DROP program for the LAPD and the abuses that were recently reported there. There were even salary increases during the recession by Villaraigosa. LADWP, LAFD, LAPD, etc. all of these depts. have fiscal abuses and are basically unchecked until the economy crashes again like 2008.

It's one of the reasons I moved out of the city of LA a few years ago so I don't have to pay the foolish bond increases and tax increases which is how LA is paying for its overblown pension obligations now. Only the people left behind in the city of LA will be burdened with paying these increases.

Um, yeah. What's your point? Are you saying that Dallas and Houston don't have worse pension obligations than LA? Sorry, but they do. More Texas cities in the top 15 cities for pension obligation mess than California cities.

[Peasy973]

Originally Posted by Tulemutt

Um, yeah. What's your point? Are you saying that Dallas and Houston don't have worse pension obligations than LA? Sorry, but they do. More Texas cities in the top 15 cities for pension obligation mess than California cities.

I saw the list. Liberal California grabs more headlines than conservative Texas. Sanctuary cities, marijuana use, homelessness, environmental laws, regressive development, etc. You get the drift.

[Tulemutt]

Originally Posted by Peasy973

I saw the list. Liberal California grabs more headlines than conservative Texas. Sanctuary cities, marijuana use, homelessness, environmental laws, regressive development, etc. You get the drift.

No, I don't get your drift. You're not making a clear point. Is your point that in spite of California cities having less pension obligation problems they are still worse off cities? That Texas cities with worse future financial challenge are better cities?

I'm not arguing. I'm asking. I don't care hw many people like Texas and want to move there. I think it would be great if half of California moved to Texas.

[V8 Vega]

Yes California cities are worse off because of extreme liberal policies, thats the drift.

[Tulemutt]

Originally Posted by V8 Vega

Yes California cities are worse off because of extreme liberal policies, thats the drift.

Ok. Then you know your options.

1. Move to a place you'd prefer
2. Stay and spend your remaining years kvetching and being crabby
3. Stay and find some new hobbies or perspectives to give your life fresh meaning and joy

Best wishes in your decision making !