Dante Posted March 13, 2012 Share Posted March 13, 2012 (edited) San Diego Pensions California Government Agencies From this WSJ article "California's economy, which used to outperform the rest of the country, now substantially underperforms. The unemployment rate, at 10.9%, is higher than every other state except Nevada and Rhode Island. With 12% of America's population, California has one third of the nation's welfare recipients. Partly due to generous union wages and benefits, inflexible work rules and lobbying for more spending, many state programs and institutions spend too much and achieve too little. For example, annual spending on each California prison inmate is equal to an entire middle-income family's after-tax income. Many of California's K-12 public schools rank poorly on standardized tests. The unfunded pension and retiree health-care liabilities of workers in the state-run Calpers system, which includes teachers and university personnel, totals around $250 billion." Edited March 13, 2012 by Dante Link to comment Share on other sites More sharing options...
KD in CA Posted March 13, 2012 Share Posted March 13, 2012 Yes, we can! Link to comment Share on other sites More sharing options...
Chef Jim Posted March 13, 2012 Share Posted March 13, 2012 Good chance I won't retire here unless I can afford a place in FL as a primary for tax reasons and have a vacation home in wine country. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 13, 2012 Share Posted March 13, 2012 San Diego Pensions California Government Agencies From this WSJ article "California's economy, which used to outperform the rest of the country, now substantially underperforms. The unemployment rate, at 10.9%, is higher than every other state except Nevada and Rhode Island. With 12% of America's population, California has one third of the nation's welfare recipients. Partly due to generous union wages and benefits, inflexible work rules and lobbying for more spending, many state programs and institutions spend too much and achieve too little. For example, annual spending on each California prison inmate is equal to an entire middle-income family's after-tax income. Many of California's K-12 public schools rank poorly on standardized tests. The unfunded pension and retiree health-care liabilities of workers in the state-run Calpers system, which includes teachers and university personnel, totals around $250 billion." Other than that, how was the play, Mrs.Lincoln? This state is a mess, but it's also what you get when your legislature cares little about addressing the real issues and instead remains busy putting forth bills to make fitted sheets mandatory in all California hotels. Take it from Morena Hernandez. After 14 years of changing sheets, she can no long go for walks with her nephews. This would not be the case if they had fitted sheets. So SB 432 will let her walk with her nephews again. And you know Governor Brown has to push for it because, as the video shows near the end, Brown sat with Cesar Chavez in the fields. If he can sit in the fields with Chavez, surely he can sit in room 13-201 at the Beverly Hills Marriott with Hernandez. Yeah. Big surprise we're going into the crapper. http://www.youtube.com/watch?v=7ZTpUFMsHJo&feature=plcp&context=C41e08d1VDvjVQa1PpcFOuHht56Vl7M_yQ2fZgCqVTTR7lWAN8D8I%3D Link to comment Share on other sites More sharing options...
Chef Jim Posted March 13, 2012 Share Posted March 13, 2012 Other than that, how was the play, Mrs.Lincoln? This state is a mess, but it's also what you get when your legislature cares little about addressing the real issues and instead remains busy putting forth bills to make fitted sheets mandatory in all California hotels. Take it from Morena Hernandez. After 14 years of changing sheets, she can no long go for walks with her nephews. This would not be the case if they had fitted sheets. So SB 432 will let her walk with her nephews again. And you know Governor Brown has to push for it because, as the video shows near the end, Brown sat with Cesar Chavez in the fields. If he can sit in the fields with Chavez, surely he can sit in room 13-201 at the Beverly Hills Marriott with Hernandez. Yeah. Big surprise we're going into the crapper. youtube.com/watch?v=7ZTpUFMsHJo&feature=plcp&context=C41e08d1VDvjVQa1PpcFOuHht56Vl7M_yQ2fZgCqVTTR7lWAN8D8I%3D Yeah the fitted sheet thing is a joke but what the real joke is that someone who has lived and worked in the country for at least 14 years can't speak the language. Assimilate my ass. Link to comment Share on other sites More sharing options...
Dante Posted March 14, 2012 Author Share Posted March 14, 2012 Texas Vs California Near the end of the article. Explains a lot. "With this in mind, it makes perfect sense that only 18 percent of the Democrats who control both houses of California’s full-time legislature worked in business or medicine before being elected. The remainder drew paychecks from government, worked as community organizers, or were attorneys. In Texas, with its part-time legislature, 75 percent of the Republicans who control both houses earn a living in business, farming, or medicine, with 19 percent being attorneys in private practice. Texas Democrats are more than twice as likely as their California counterparts to claim private-sector experience outside the field of law." Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 15, 2012 Share Posted March 15, 2012 Texas Vs California I've been a very big Chuck DeVore fan since I met him campaigning to run against Barbara Boxer in 2010. I was so impressed with his grasp of issues, communication skills and, most importantly, the very genuine nature of his being, that I came ridiculously close to hosting him at my house for a fundraiser, even though I knew his run vs. Boxer was a longshot. I was very disappointed to see him leave for Texas. But he has been instrumental in helping me realize that in spite of having a successful business in California, our state is on a crash course with itself, and the sooner I can get out, the better it will be for my business and family. The liberals running this state are absolutely due to wake up one day to find they have no one left to tax but themselves. But hey...we'll have fitted sheets in all our hotels, so that's something... Link to comment Share on other sites More sharing options...
DC Tom Posted March 15, 2012 Share Posted March 15, 2012 The liberals running this state are absolutely due to wake up one day to find they have no one left to tax but themselves. Due to the failed policies of the Bush administration... Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 15, 2012 Share Posted March 15, 2012 Due to the failed policies of the Bush administration... Bush lied, California died. Hey, should you really be wasting posts here? You were down to number 4 or 5 on the Mario thread. Slacker. Link to comment Share on other sites More sharing options...
Chef Jim Posted March 15, 2012 Share Posted March 15, 2012 Bush lied, California died. Hey, should you really be wasting posts here? You were down to number 4 or 5 on the Mario thread. Slacker. I picture Tom like a stock trader with 5 computers in front of him all open to a different forum. Link to comment Share on other sites More sharing options...
DC Tom Posted March 15, 2012 Share Posted March 15, 2012 I picture Tom like a stock trader with 5 computers in front of him all open to a different forum. Actually, with the new virtualization server I built, I only need two computers. But 5 monitors. Link to comment Share on other sites More sharing options...
GG Posted March 15, 2012 Share Posted March 15, 2012 Texas Vs California Near the end of the article. Explains a lot. "With this in mind, it makes perfect sense that only 18 percent of the Democrats who control both houses of California's full-time legislature worked in business or medicine before being elected. The remainder drew paychecks from government, worked as community organizers, or were attorneys. In Texas, with its part-time legislature, 75 percent of the Republicans who control both houses earn a living in business, farming, or medicine, with 19 percent being attorneys in private practice. Texas Democrats are more than twice as likely as their California counterparts to claim private-sector experience outside the field of law." That is a brilliant editorial because it gets to the root of California's mess, and hints at the tipping point of California's impending bankruptcy. Fiscal watchers expect California to be ground zero of municipal bond calamity because all the signs are there - unchecked government spending, overregulation, very progressive and high taxation, lax financial management at the local level. Before most of you even knew CDSs, swaps, etc existed, there was a mini-major scare in Orange County. We noticed, the rest of the world ignored. When San Diego sounded an alarm about its pension system about a decade ago, not a peep. The question is, why? Why has California been able to kick the can down the road, when all the fiscal signs are pointing in the opposite direction? The answer is that Hollywood & Silicon Valley continue to bail it out - for now. But when you look deeper, and as DeVore hints, one of those gravy trains could come to a big halt. California is no different than the dot.com boom & bust, when we realized that start ups at that time never really had a business model and that the vast majority of money flowing through the dot.coms was seed & venture capital, disguised as revenues. When the seed money dried up, so did the bad business models. California is similar because it still attracts a lot of techie entrepreneurs for obvious reasons. But, as soon as the businesses take off, they hightail out of the state as soon as possible. So the state never gets a chance to benefit from that success when that business is in best shape to employ workers, pay salaries and contribute to the economy. This starts a vicious cycle of California needing to remain the hub of start ups to at least maintain the flow of young talent into the state. (In another thread, the can talk about the flow of undocumented workers that keep costs low and further delay the inevitable). But, just like the dot.com bust, California's spot as the preeminent destination for venture capital is not set in stone, and as Texas & Colorado pick away successful businesses from California, venture capital will follow and those states will then also compete for the new ventures. That will be the final nail in the nanny state. Good luck Moc. Make sure you're not the last one to turn out the lights. Link to comment Share on other sites More sharing options...
IDBillzFan Posted March 15, 2012 Share Posted March 15, 2012 When San Diego sounded an alarm about its pension system about a decade ago, not a peep. San Diego is in deep trouble as I type this, and it's all about the pensions. LInk. Make sure you're not the last one to turn out the lights. I will not be the last one out. I'm gone in five years, if not sooner. Link to comment Share on other sites More sharing options...
DC Tom Posted March 15, 2012 Share Posted March 15, 2012 San Diego is in deep trouble as I type this, and it's all about the pensions. LInk. MD's headed that way, too. They're talking now about eliminating the mortgage interest deduction on income tax, rather than have state workers contribute to their pension funds. Good plan...drive home prices down and drive capital out of the state. THAT'S going to fix your budget gap. Link to comment Share on other sites More sharing options...
Recommended Posts