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Leftist Nightmare: Gov Brown to drain govt pensions to fight global warming and immigration law.

ludin said:
Across the country, states and local governments have about $1.7 trillion less than what they need to cover retirement benefits -- the result of investment losses, the failure by governments to make adequate contributions and perks granted in boom times.

Yes you should read.
They have a 1.7 trillion dollar deficit. That money has to be paid somehow.

Please read and understand what 1.7 trillion less than what they need means.
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You actually post the words from the article and yet - I'm only going by the words you have written - apparently, still do not comprehend the difference between California's shortfall on its employee pension plan and the shortage of all government pension plans in the United States.

Here - as simple as I can write it - CALIFORNIA DOES NOT HAVE A $1.7 TRILLION DOLLAR SHORTAGE IN ITS PENSION PLAN. CALIFORNIA IS ONE STATE IN THIS COUNTRY.
 
Somerville said:
You actually post the words from the article and yet - I'm only going by the words you have written - apparently, still do not comprehend the difference between California's shortfall on its employee pension plan and the shortage of all government pension plans in the United States.

Here - as simple as I can write it - CALIFORNIA DOES NOT HAVE A $1.7 TRILLION DOLLAR SHORTAGE IN ITS PENSION PLAN. CALIFORNIA IS ONE STATE IN THIS COUNTRY.
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Yep your right that is a combination but a short google search shows that CA does have a pension deficit of about 241b dollars.
That is my mistake.
 
SirGareth said:
Its so hard to be a socialist these days:

https://www.bloomberg.com/news/arti...n-raises-prospect-of-pension-cuts-in-downturn
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Actually, there's no indication that he's doing this to fight climate change and anti-immigration orders. He's doing it because his state is having funding issues. Personally, I'd recommend California review it's taxation policy and how it could house almost the entire whole of the media industry and high tech industry and still be looking for places to get relief on their budget.
 
FieldTheorist said:
Actually, there's no indication that he's doing this to fight climate change and anti-immigration orders. He's doing it because his state is having funding issues. Personally, I'd recommend California review it's taxation policy and how it could house almost the entire whole of the media industry and high tech industry and still be looking for places to get relief on their budget.
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Their pension funding issues are caused, like always, by overpromising and under funding pensions.
It is a common mistake, as witnesses in Chicago and New Jersey as of late.
The industries located in CA are not relevant, as the problem boils down to piss poor state fiscal management.
 
year2late said:
Interestingly enough...

https://www.wsj.com/articles/jerry-...llion-budget-surplus-in-california-1515624022

https://wallethub.com/edu/states-with-the-best-economies/21697/
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SMTA said:
And socialism had absolutely no bearing on the article, either.
The entire OP as a total lie and a sham.
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I really would like him to back up his socialist claims.

Things are not entirely rosy here, but Jerry Brown has done very well for us. Did what Schwarzenegger failed to do.

Huge economy and "moonbeam" excelled.
 
year2late said:
I really would like him to back up his socialist claims.

Things are not entirely rosy here, but Jerry Brown has done very well for us. Did what Schwarzenegger failed to do.

Huge economy and "moonbeam" excelled.
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Never happen.
It's the typical lie, hit, and run.
 
So what are the actual numbers behind this theoretical claim of what might be able to happen if certain other things go bad and happen?
 
SMTA said:
Their pension funding issues are caused, like always, by overpromising and under funding pensions.
It is a common mistake, as witnesses in Chicago and New Jersey as of late.
The industries located in CA are not relevant, as the problem boils down to piss poor state fiscal management.
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Maybe California’s budgetary problems would not be so severe if the state was not kneecapped by being unable to raise taxes without the ridiculous requirement of needing a super majority in the legislature and voting public to enact tax increases
 
chuckiechan said:
This has been building for a long time and now that Gov. Moonbeam is termed out he can face reality.

And connected to this is a court case heading for SCOTUS regarding public unions using member dues to support political causes unrelated to employment.
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Moonbeam seems to have done ok for California.

Jerry Brown's Legacy : A $6.1 Billion Budget Surplus in California

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Jerry Brown's Legacy : A $6.1 Billion Budget Surplus in California
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01/10/2018 | 05:56pm EST
By Alejandro Lazo and Nour Malas
LOS ANGELES -- California Gov. Jerry Brown appears poised to exit office next year with a top political priority in hand: free from the massive budget deficits that had weighed on his predecessors.

Buoyed by tax increases passed under his administration and a strong economy, Mr. Brown said Wednesday that the state is projecting a $6.1 billion surplus for the next fiscal year, which begins July 1.

The governor proposed socking most of the money away in a rainy-day fund whose creation he pushed for in 2014. Nearly 70% of the state's projected revenue of about $135 billion next fiscal year is derived from personal income taxes, according to the governor's office.

The state's fiscal health is especially crucial as it faces myriad challenges: record natural disasters, housing shortages and changes to federal tax regulation -- all while it ramps up opposition to the Trump administration on several major policy fronts.

As is his custom, the governor warned of an inevitable economic slowdown.

"California has faced 10 recessions since World War II, and we must prepare for the 11th," he said. "Let's not blow it now."

Mr. Brown has been preaching frugality for years -- he kicked off one past budget talk with Aesop's fable about the thrifty ant and the lazy grasshopper.
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Moonbeam did what Mr Universe couldn't.

Is there alot of work to do here? Hell yeah.

But Moombeam is at least heading us in a much better direction.

Moonbeam also accomplished alot in his years as Oakland's mayor as well.
 
Unitedwestand13 said:
Maybe California’s budgetary problems would not be so severe if the state was not kneecapped by being unable to raise taxes without the ridiculous requirement of needing a super majority in the legislature and voting public to enact tax increases
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We are looking at a 6.1 Billion surplus.
 
SMTA said:
Their pension funding issues are caused, like always, by overpromising and under funding pensions.
It is a common mistake, as witnesses in Chicago and New Jersey as of late.
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You're missing the point here. Why are the pensions under-funded? If the state or city governments made unsustainable labor deals, I can agree that this is bad for everyone involved from the tax payers to the government worker. But that's not an explanation for why the pension programs are getting diminished funding.

The industries located in CA are not relevant, as the problem boils down to piss poor state fiscal management.
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I'm perfectly happy to agree that governments are not functioning as they should, but I'm just less likely to give a knee jerk response here that Google and Apple finding creative ways to get out of paying taxes isn't the problem here. Personally, I'm happy to agree that state governments may have made bad negotiations and that the rich have been allergic to paying their taxes for far too long. And that it's ****ing harmful to our society that so many institutions necessary to our nation's health are being systematically torn apart due to under-funding, piss poor management coming from neoliberal managerial philosophies, and so forth, all of which stem from the white-collar, career-class elites making sure that they perpetuate their power and wealth (both Democrat and Republican)
 
FieldTheorist said:
You're missing the point here. Why are the pensions under-funded? If the state or city governments made unsustainable labor deals, I can agree that this is bad for everyone involved from the tax payers to the government worker. But that's not an explanation for why the pension programs are getting diminished funding.



I'm perfectly happy to agree that governments are not functioning as they should, but I'm just less likely to give a knee jerk response here that Google and Apple finding creative ways to get out of paying taxes isn't the problem here. Personally, I'm happy to agree that state governments may have made bad negotiations and that the rich have been allergic to paying their taxes for far too long. And that it's ****ing harmful to our society that so many institutions necessary to our nation's health are being systematically torn apart due to under-funding, piss poor management coming from neoliberal managerial philosophies, and so forth, all of which stem from the white-collar, career-class elites making sure that they perpetuate their power and wealth (both Democrat and Republican)
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State leaders spend the pension money elsewhere and never pay it back.
They keep this up and aggregately get really behind.
It is greed and poor revenue management.
 
ludin said:
Their pension fund is 1.7trillion dollars short ofnwhere it is supposed to be.
They are not rolling in anything but debt.

Is is why public unions are a disaster and taxpayers should have a third party in the mix to watch out for this.
Actually they should sue the government for lack of fiscal responsibility.
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I agree.

I'm all for private unions, but not public.

I hope Brown prevails, and then we could follow suit in my state.
 
Chomsky said:
That's an inaccurate lead-in you supplied.

Brown is not a socialist. I suspect you know that.
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To the Far Right, anything to the left of Dick Cheney is "socialist."
 
Phys251 said:
To the Far Right, anything to the left of Dick Cheney is "socialist."
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Yeah, my patience is growing a bit thin with posters painting their opposition as straw-men.
 
Phys251 said:
To the Far Right, anything to the left of Dick Cheney is "socialist."
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Hell, you notice they do not invoke St Ronnie anymore?
 
year2late said:
Hell, you notice they do not invoke St Ronnie anymore?
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That's because they're replaced a wolf in sheep's clothing with a full-fledged wolf.
 
Chomsky said:
Yeah, my patience is growing a bit thin with posters painting their opposition as straw-men.
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CA is in the shape it is due to massive government programs.
While he isn't a socialist CA is going to have to do something.

This is why 3rd party mediators should be here to protect the interest of the tax payers.
All these massive give always to unions from nut job liberals are ruining states.

There is. NO reason that the state should continue to pay you once you retire.
If you have a 401k great.
 
Chomsky said:
That's an inaccurate lead-in you supplied.

Brown is not a socialist. I suspect you know that.
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Brown is a nutjob.

Sent from my SM-G900V using Tapatalk
 
SirGareth said:
Its so hard to be a socialist these days:

https://www.bloomberg.com/news/arti...n-raises-prospect-of-pension-cuts-in-downturn
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I know that I am coming late to this party but Gov. Brown is not a socialist. He is also responsible for taking the debt laden California into surplus.

Regarding CA's pensions, right-wingers want to use this as an excuse to believe that pensions are bad. They aren't. But if you are going to offer them, you need to fund them. Over the decades, politicians found it easy to offer pensions then refuse to fund the cost, sending that cost into the future. That irresponsibility doesn't undercut the value of providing pensions for employees.\
ObamacareFail said:
Brown is a nutjob.
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Thanks for your usual well-thought out viewpoint.
 
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