OtherGround Forums Did California run out of money?

9/21/20 1:06 AM
2/4/06
Posts: 23482

Doesn't sound like it's broke... Sounds like government royally fucks up every program it runs and can't even piss and shit in a timely manner. That's why it should control healthcare, too!

9/21/20 1:08 AM
4/22/07
Posts: 72751

Hopefully we recall this scumbag

Edited: 9/21/20 1:18 AM
9/1/04
Posts: 27203

They only run out of money for the people that have worked and contributed. They have an endless fountain of money for those that don't. They've tried to do similar stuff with pensions.

9/21/20 1:21 AM
4/22/07
Posts: 72753
GladiatorGannon -

They only run out of money for the people that have worked and contributed. They have an endless fountain of money for those that don't. They've tried to do similar stuff with pensions.

Yep, that fuckface was trying to use CalPERS money for illegals. I have two family members that earned and receive that pension. I would never do a damn thing but if Newscum died in a fire I would have a nice chuckle. Fuck him

9/21/20 5:26 AM
6/11/13
Posts: 1223
shen -
California is that dude who makes $300K a year and goes bankrupt 100% because of his insane spending habits.

The bulletrain alone, is the biggest public works boondoggle in history.

A few billion here, a few billion, there after a while it kinda adds up.

So, Jeremy Renner?

9/21/20 8:53 AM
7/13/09
Posts: 17785

Teachers Union pension NOT Voted for. 
 

 
Pension spending as a form of state investment is particularly salient in California, because the state – not just employees and their employers – contributes to the California State Teachers’ Retirement System (CalSTRS). This makes CalSTRS somewhat unique among teacher pension programs. The state of California alone will pay $4.4 billion into the teacher pension fund in 2019-20, which is about 6 percent of total K-12 spending and more than $700 per student. That is on top of the roughly $1,280 per student that districts will spend on teacher pensions this year.[2]
 
Unfunded liabilities

The cost of teacher pensions in California is rising, but not necessarily because teachers are getting paid more or because their benefits are improving (aside from annual inflation adjustments). Instead, costs are on the rise because investment returns have not kept up with projected returns, people are living longer, and the number of workers contributing to the system is lower than the number who are drawing on it. These factors and others have contributed to a massive unfunded liability. As of June 2017, the unfunded liability of the California State Teachers’ Retirement System (CalSTRS) – the amount it will owe to teacher retirees over the next 30 years but hasn’t yet funded – stood at $107 billion.[4] That’s about the GDP of Ecuador, or enough to cover University of California tuition, fees, and living expenses for more than 20,000 students per year for the next 30 years.

 

 

 

9/21/20 12:19 PM
5/7/10
Posts: 2207

I don't know anything about this topic but I never understood how states don't have money? Can someone explain to me how states have no money when every two weeks every working person in that state gives them 30% of their check? That's millions and millions of dollars every two weeks isn't it? 

9/21/20 11:59 PM
5/2/02
Posts: 28942
Aarin -

Illegal immigrants will still get their healthcare on time...

Well illegal immigrants vote 

9/22/20 12:21 AM
11/15/04
Posts: 1324
LOL at California running out of money! 5th largest economy in the world. When the state has to shut down to preserve life, it means they have millions of people filling for unemployment. They knew it would happen and with 4 million Trump voters in the state, they knew there would be a lot of fraud.