Each California household owes $93K for state pensions
- Thread starter Displaced Bama Fan
- Start date
If by safe place you mean federal bailout/handout, then yeah.Well, bless their little snowflake hearts! When their quixotic utopia gets bludgeoned in the face by reality, they'll all go to their safe places I assume?
They can't afford the present, much less repay the past.Well, bless their little snowflake hearts! When their quixotic utopia gets bludgeoned in the face by reality, they'll all go to their safe places I assume?
I drove to Fresno in the summer, the gas price went up $1.15 a gallon from Az to Ca. When I asked why, everyone just shrugged, "It's California". Really ?
Do you the think US is going to have to move away from pension plans in the future? Either by getting rid of them altogether or drastically reducing their payout?
Wait a minute. Something's not adding up. Wasn't it Bill Maher just earlier this year who said that California is experiencing an economic boom because of all the democratic/liberal policies that have been put in place. I'm not going to link the video because Bill can't go three or four words without dropping some form of profanity so I'll leave it up to y'all to look up the video on your own. I maybe "misremembering" but he may have even threw the word "surplus" in there as well.
Last edited:
California has stricter gas evironment standards than other states, so when they switch over to the summer blends gas, it is more expensive for the refineries to produce them. Also, there's an oil tax still on the books that was originally passed to help pay for the Spanish-American War that is affecting gas prices in California as well. So yeah, to the locals (and ex-locals like me), "It's California" is a suitable response.
Here in Corpus Christi, on the Gulf coast in Texas, city employees are GUARANTEED $2.00 for every $1.00 to their retirement and a 25% return on their fund.
If the 25% is gain is not realized in the market, city taxes subsidize it.
There for sure has been a trend of offloading risk to the consumer, and admittedly, pensions are a little more complicated to manage and don't give the level of funding certainty that most companies would like to have. Nevertheless, if future benefits are based on reasonable/realistic actuarial assumptions and companies fund pensions accordingly, there is a place for them in the retirement system. My company has a pension plan and a 401k plan with matching. It's akin to a balanced portfolio of bonds (guaranteed income) and stocks (inflation protection) in my opinion.
I think Houston is in the same boat. Stupid, liberal policies will bankrupt all of these cities.
That was the only part of that episode that I saw (and the only part of any episodes of his show that I saw) and 2 days later there was, an unrelated to his show, piece on a national news network that California's unemployment rate had risen in the recently reported quarter. I think California had one quarter where unemployment numbers went down a little and then reality checked in. And Maher talking about a surplus? Talk about fake news!
Latest threads
-
Chattanooga VW Plant Union Vote- Started by 92tide
- Replies: 0
-
-
-
Political Meme - Cartoon/Joke Thread...Part XX- Started by Bazza
- Replies: 9
-
US Army replacing 5.56mm rifle with a 6.8mm for infantry- Started by Tidewater
- Replies: 6
-