Posts Tagged ‘california public pensions’

Pension Reform Rollback Shows True “State of the State”


Friday January 22nd, 2016   •   Posted by K. Lloyd Billingsley at 5:01am PST   •   0 Comments

Long before his latest State of the State address, governor Jerry Brown has been proclaiming that California is back, and as City Journal California associate editor Ben Boychuk notes, there is some ground for optimism. The Golden State has enjoyed impressive job growth over the past three years and this year might overtake Brazil…
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Ruling Class Reactionaries Set Back Pension Reform


Wednesday January 20th, 2016   •   Posted by K. Lloyd Billingsley at 11:00am PST   •   0 Comments

A major statewide pension reform measure will not, as expected, be on the 2016 ballot. That is bad news for California’s working taxpayers. As Lawrence McQuillan notes, California accounts for $550 billion to $750 billion of the nation’s total unfunded pension liabilities. In his research for California Dreaming: Lessons on How to Resolve America’s…
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Ruling Class Redistribution


Thursday January 7th, 2016   •   Posted by K. Lloyd Billingsley at 9:23am PST   •   0 Comments

Politicians talk about spreading the wealth but ruling-class redistribution works best in one direction. Government takes money from the workers and gives gobs of it to government bosses, often on their way out the door. As we noted, when Jim Estep parted company with the northern California city of Lincoln he bagged a separation…
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The Truth on Unfunded Pension Liability


Wednesday October 21st, 2015   •   Posted by K. Lloyd Billingsley at 9:07am PDT   •   0 Comments

In 1999, Dan Walters of the Sacramento Bee notes in a recent column, the California Public Employees’ Retirement System, “abetted one of the most irresponsible political acts in state history – a massive increase in public pension benefits.” CalPERS did this by telling legislators, “the benefit increase state worker unions were seeking could be…
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GovPensions.Con


Tuesday October 13th, 2015   •   Posted by K. Lloyd Billingsley at 10:01am PDT   •   0 Comments

As Lawrence McQuillan has noted, unfunded pension liabilities have soared to $4.7 trillion nationwide and California accounts for $550 billion to $750 billion of the total. A case outlined by Brad Branan in the Sacramento Bee shows why California is a leader in this field. In Loomis, near Sacramento, town councilman Brad Wheeler was…
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Class-Action Lawsuit Targets Taxpayers


Wednesday September 30th, 2015   •   Posted by K. Lloyd Billingsley at 11:58am PDT   •   0 Comments

In California Dreaming: Lessons on How to Resolve America’s Public Pension Crisis, Lawrence McQuillan discovered that California accounts for $550 billion to $750 billion of the $4.7 trillion in unfunded pension liabilities nationwide. The biggest player is the California Public Employees’ Retirement System (CalPERS) which in 1999 assured legislators that its investment earnings would…
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GovSpending.Con


Monday July 20th, 2015   •   Posted by K. Lloyd Billingsley at 10:53am PDT   •   0 Comments

California taxpayers, the most embattled in the nation, have good reason to wonder how much their government is spending. According to Dan Walters of the Sacramento Bee, a veteran observer, government is spending a lot more than people think. The 2015 state budget has been reported as $115.4 billion, for the general fund, and…
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