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"Infinite" is not a word you expect to find in a report on municipal spending. It's more of a science fiction–type term — Tremble, Earthling, before the infinite might of Galaxor! But there it was, in a recent report on San Francisco's finances: Spending on the city's employee retirement system in the past decade had grown at an "infinite" rate.
Naturally, that's an exaggeration. If you do the math, the city's retirement costs for employees in the past 10 years actually grew only 66,733 percent.
as the story notes, this problem is certainly not specific to SF. but those insanely generous benefits aren't looking like such a bright idea right now
You can thank all the liberal/socialists IN San Francisco and, for that matter, California. They voted for this and THEY backed it. Unions, after all, are PRIMARILY a democratically controlled institution.
As I and other have stated: This non stop spending, by governments, cities, counties, states, and the federal government, cannot continue. However, as long as we have a liberal/socialist majority, it will continue.
You people wanted this and you got it. Now, you are screaming and whining about it.
You can thank all the liberal/socialists IN San Francisco and, for that matter, California. They voted for this and THEY backed it. Unions, after all, are PRIMARILY a democratically controlled institution.
As I and other have stated: This non stop spending, by governments, cities, counties, states, and the federal government, cannot continue. However, as long as we have a liberal/socialist majority, it will continue.
You people wanted this and you got it. Now, you are screaming and whining about it.
eventually it'll all blow up. it's unsustainable.
i particularly liked this line -
"It's astounding — but it shouldn't be. In San Francisco, when labor asks to change a twenty, it always gets back three fives and a ten."
Yeah, and guess who will have to bail them out when it does.
Gov Arnie has it covered..CA will just issue IOU's like they did before.
All is good, or so it seems. Just tax the rich more so you can cover.
Sooner or later a state will be on the brink of default and the only way out will be a Fed bailout. Will it be CA or another state is the question.
And when the first goes down you can bet your bahoogas the other 56 will be lining up (The Obama official 57 state figure).
US states are like the line of dominoes..it only takes one to start the unstoppable.
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