Posted on 04/22/2012 9:15:14 AM PDT by Oldeconomybuyer
As Stockton stands on the brink of insolvency, cities, counties and school districts throughout California are grappling with the same problem of paying the health insurance of its retired workforce.
San Francisco, which once allowed its public employees to qualify for full retiree medical benefits after working just five years, is projected to pay $153 million in retiree health care costs this year. Cities like Thousand Oaks and school districts like the Los Angeles Unified School District are also facing long-term unfunded liabilities.
The looming crisis is similar to the one involving public employee pensions. The difference is that retiree health care has largely been handled on a pay-as-you-go basis, meaning the state and municipalities rarely set aside funds.
(Excerpt) Read more at sfgate.com ...
Well Sacramento, quick raise taxes to cover it before it’s too late!
Democrats using taxpayer money to buy the votes of the criminal class and government workers will collapse the system... but I guess they know that...
Let public employees write checks on the taxpayers’ bank accounts and this is pretty much what happens.
Full retiree medical benefits after 5 years. Just curious; How much of the taxpaying public was out protesting that?
“Just curious; How much of the taxpaying public was out protesting that?”
How many were even aware of it?
What will it take for the sheeple to stop fooling themselves and realize that the politicians they elect are not there to do what’s good for the public, but that they’re there to do good for themselves.
The only solution is to STARVE THE BEAST.
For those who remember the old Soviet Union, it was a grim place — at least for average citizens. But not so for those in government. Contrary to the official ideals of equality and a classless society that the ruling communist regime espoused, the USSR created a privileged class of party members inside government — the nomenklatura. This semipermanent bureaucracy earned higher incomes, got better health care, ate better food and had greater job security than average Russians, the much-despised proletarians. Today, our bloated government seems, in significant ways, to be creating this same dynamic.
Most had no clue it was even happening. Ya think government broadcasted this on the evening news?
Who would have ever thought cops and firemen, city council members and bloated corrupt water department government employees would be retiring at 50 years old, with government gold plated retirement pensions of $85,000+ per year?
As they showered them with the very best benefits and medical care for life?
All this while the private sector was incrementally economically gang raped by government at all levels.
BTW, these government lottery style pensions/benefits are not isolated to California.
This sh*t is happening in every state in this country.
ObamaKKKare didn't quite do what they thought it would do so they are stuck with these disasters of their own making.
BTW, State and local government retirees should probably prepare to take action in the courts ~ and elsewhere ~
The politicians getting elected were also Democrats.
No reason recourse can't be made to the pockets of the Democrats themselves with special sumptuary taxes.
They're about to experience what Cloward and Piven would call "success".
I hope they go to court, then the local and state government will have to claim bankruptcy which they, in fact, are - and the $85K/year retirees will have to renegotiate their whole package to something the taxpayers can afford. Closer to $40K/year if that.
There's no reason to let them escape through bankruptcy.
Golly, who saw this coming?
Right on. There in lies the problem.
California the poster state of how not to get anything right.And the still vote democrat,you get what you vote for.
No pity parties allowed.
There is every reason to let them escape through bankruptcy. Number 1 being there is no more money.
I'd go after them first! They've got stuff. They have relatives to tap.
The stupid SF taxpayers voted for it at the ballot box. Yes, SEIU and other unions brainwashed the voters to go for it. Any changes in civil service benefits have to be approved by the voters. And SEIU tugs on the voter's heart-strings by saying public safety is at risk unless approved. Works every time.
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