Pension reform for a bankrupt state? Ha. We’ll just take the bailouts, instead, thanks.
Your tax dollars at work. For us. Suckers.
****
update: somewhat related.
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Recent Comments
- In The Mailbox: 02.28.23 (Afternoon Edition) : The Other McCain on Hey, longtime pw readers…
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There’s nothing like more expensive regulation in the face of a limping economy to really kick it into low gear. In fact, that low gear is probably reverse.
Thank the Lord that the Democrats are driving. Can you imagine how much WORSE things would be…?
Utah doesn’t have that problem anymore. In March, the state legislature became the first in the nation to pass a major overhaul of the state’s defined benefit pension system after it lost 30 percent of its assets ($4 billion) in the stock market. All current employees will continue in the present system. But all new workers hired after July 1, 2011 can choose to enroll in either a 401(k) or a hybrid pension system that caps state contributions at 10 percent of employees’ salaries – no matter what the stock market does.
Hmmm.
The Mormons successfully fucked the unions.
With a lawn mower.
Second look at Romney?
Lamont–one word about Romney: RomneyCare.
One day people will look back on this “green, sustainable,” crap and shake their heads in wonder at how stupid we are.
Nevermind.
enroll in either a 401(k) or a hybrid pension system that caps state contributions at 10 percent of employees’ salaries…
10 FUCKING PERCENT?!?!
Really?
Really?
Most private companies can’t even afford to match squat anymore on 401ks & the ones that can match maybe 3%-6%. The 6% prolly being Goldman Sachs. The fucking government is matching Patty Paper Pusher (she comes complete from Matel with official stamp, ink & fat lazy ass) 10%… with taxpayers dollars!
And that’s Utah! Where they’ve apparently “reformed” the pension system.
What in the blue fuck?!
What do you do Patty?
What do YOU do? Create wealth? Create jobs? Heal the sick? WHAT DO YOU DO?!
Fucking nothing. That’s what.
Oh, wait. That’s right…you work for the government.
Here’s your 10%.
One day people will look back on this “green, sustainable,” crap and shake their heads in wonder at how stupid we are.
Like the 21st century snake-oil of state government funded “stem cell research”. It’s been 7 years now.
#6: Compared to the “defined benefit” pension system here in the Land Of Fruits And Nuts, what Utah has is positively “stingy”–and fiscally sound.
You’re right Blake.
I know he’s a savy bid’nessmen who knows how to slash a budget though. And it ain’t about a spending freeze. That ship sailed, caught on fire, and sunk 18 months ago. It’s about Chris Christie style badassery cuts on a national scale. I’m not a fan because I don’t know that much about Romney (plus he’s a border enforcement pussy), but he seems to have the economic chops.
But then there’s that fucking Romney Care.
Good grief.
Good thing there isn’t a DanielsCare, huh?
#7 Curmudgeon,
Well, we can all be Josey Wales to the greenies & stem cell snake-oil salesmen (damn carpetbaggers).
Spit tobacco on ’em from horseback and ask, “How’s it do with stains?”
helpful tip: when California tries to do the taxings for to collect the pension monies for their illiterate union thug pussy workforce they should start with taxing the moving vans
The Democrat majority in the California legislature is a wholly-owned subsidiary of the state’s public employee unions. The taxplayers and the voters don’t matter–only the unions do. Pension reform? No. Education reform? No.
The only thing that can save California now is the elimination of collective bargaining for public employees, but only a ballot initiative could do that.
Tomorrow’s Headlines….Today!
“CALIFORNIA SLIDES INTO PACIFIC OCEAN; PACIFIC OCEAN THROWS IT BACK.”
I thank God, every day, that when I left the public sector, after 5 years, I took my pension money and rolled it into an IRA. Looks like the ol’ IL public pensions are heading toward fiscal Armageddon. CA might be the only place in worse shape in these here 57 states.
Lemmings.
Cliff ahead. Watch out.
If California doesn’t lower pension bennies, it will go broke. If California raises taxes enough to pay the pension bennies, businesses and individuals who pay those taxes will leave, thus California will go broke.
So, essentially, California public employees are demanding that California commit seppuku so they can feed on its corpse.
#17 Jeffersonian: the only thing wrong with your analysis is the verb tenses. Substitute past perfect and you’re golden.
Regards,
Ric
I stand corrected.
ohnoes fresh faggotry
Why does the S&P dildo think that president cocksucker’s random ass cocksucker commission is the be all end all of whether or not our piece of shit country should maintain a good credit rating? First of all, dildo, if you haven’t already cut failshit America’s credit rating to one level below shit you’re not doing your job, are you? No. No you’re not. Second of all, dildo, empowering the most spendyest most cocksuckingest president of the united states ever with a threat to cut the USA’s credit rating if we don’t all bow before his faggot commission is supremely gay.
Mark Zandi just called to say that he agrees even though the stimulus package already turned the deficit into a surplus, erased our entire debt, and cured his erectile dysfunction.
and don’t think you won’t be invoiced for the call
Shit. I should have suspected.
more like vibrator you know stimulus
If he’s got to checkmate already, I wanna know, did he open with a Queen’s Gambit?
The “Governator” tried that already, and the California Teachers Association spent $110 million of its members’ dues to slap down even modest reform initiatives.
We’re fucked. The only question is whether Meg Whitman can slow the inevitable crash, or whether Jerry “Moonbeam” Brown will make it a hypersonic dive into the ground.
– OTH, Paul Krugman has his finger on the pulse of the economic woes.
– In a long winded rant he says the recession is not recovering because of two main factors.
– Bumbblefuck did not make the stimulous package nearly large enough, and the Fed should demand that the financial district/companies stop sitting on that 2 trillion and invest to get the economy moving again.
– Well he thinks we needed to go 8 trillion in debt instead of 2 trillion, because you know, if a little redistribution of imaginary wealth is good, a hell of a lot more would do the magic elixir. He didn’t say how the Fed would be able to force business’s to invest in an anti-free market system, but knowing the mindset of the Lefturds, firing squads would be on the table as an option.
– How could one man be so totally wrong so consistently. Yes, rhetorical.
I read that, BBH. I left a comment the NYT won’t publish.
Not a recovery, not a textbook recession; what, then?
It’s a WAIToutheDEMOCRATSecession.
Who is John Galt ?
Meg Whitman is running a campaign ad saying she’s going to empower a grand jury to ferret out waste and fraud, and as example mentions a rest stop on Interstate 80 that cost 3.4 million dollars.
Makes me giggle every time, stupid broad. Shit, half of that cost was probably just getting the environmental impact report filed. Complying with the report probably doubled the cost of construction.
Oh well, nothing another government authority won’t fix, right?