$.80 cents of every government $1.00 in California goes to employee compensation and benefits. (2013, pension)

[jimhcom]

Arnold Schwarzenegger: Public Pensions and Our Fiscal Future - WSJ.com

This should not just worry the people of California, but the rest of the country who will eventually be on the hook when California defaults, and the Federal Government has to bail them out.

[GregW]

Not everybody is an entrapenur. Sometimes it pays off. Like in 30 years at moderate pay (by California standards anyway) folowed by a decent pension at 60. Pay me now or pay me later. They chose pay me later. So the wealthy of California aka the sucesssful entrapenurs will have to pay up.

[k374]

a very ominous chart below:



if you notice the costs in 2013 are almost DOUBLE the costs in 2010 and by 2016-2017 it would've TRIPLED. That itself should tell you that all this public pension nonsense should be terminated effective immediately. Infact public employees should be laid off en masse just like the private sector to align with economic fundamentals. Why is it that public service employees should be different?

[texdav]

70-75% is normal; even in business on labor and the legacy cost.

[Boompa]

If the Fed raised interest rates to 4% Californias Pensions would be sound

[Jaggy001]

Originally Posted by Boompa

If the Fed raised interest rates to 4% Californias Pensions would be sound

So would my savings

[nicet4]

Originally Posted by Boompa

If the Fed raised interest rates to 4% Californias Pensions would be sound

But talk about killing what little activity there is.

[Brave Stranger]

Originally Posted by GregW

Not everybody is an entrapenur. Sometimes it pays off. Like in 30 years at moderate pay (by California standards anyway) folowed by a decent pension at 60. Pay me now or pay me later. They chose pay me later. So the wealthy of California aka the sucesssful entrapenurs will have to pay up.

In theory you are right, but in action you are wrong. The producers are moving out of California fast.

[maschuette]

California has always lead the country in so many things, lets just hope this is not one of them.

[mysticaltyger]

Originally Posted by GregW

Not everybody is an entrapenur. Sometimes it pays off. Like in 30 years at moderate pay (by California standards anyway) folowed by a decent pension at 60. Pay me now or pay me later. They chose pay me later. So the wealthy of California aka the sucesssful entrapenurs will have to pay up.

FYI, that's spelled "entrepreneur".

Entrepreneur | Define Entrepreneur at Dictionary.com