How the hell does this happen? "WHO" is exactly the one bankrupt? The Citizens since they ultimately fund it or????


LINKY

A bunch more, will soon be applicants for BK.

You can start with unions (and the legislators they bought) "negotiating" contracts for public service employees that gave lifetime medical benefits to workers and their spouses after only two months (that's right; I said two MONTHS) of employment. Retirement at 55 with a wage higher than the private sector; pension "spiking". Follow the path from there.

The citizens (the ones that fund them) are bankrupt due to still paying for them while living with reduced services. Shorter or no library hours; reduced police and fire protection; potholes that aren't filled; etc., etc.

Maybe CA won't be the golden state much longer.

Spending like there ain't no tomorrow is how it happens.

Sound familiar?

State and Feds are still doling out grants without even a consideration of where the money comes from. When is the insanity going to stop?

^plop^ (head retreating into the sand again)

did you read the article or did your knee start twitching immediately with the union stuff?

here's a quote from the article describing some of the major issues besides pensions.
"Stockton's financial health has been a victim of both the real estate collapse and mismanagement, say current city officials. Home values fell more than 50%, slashing property tax revenues. The city made ill-fated investments at the peak of the real estate boom in a new city hall that was never used and a sports stadium. Financial records were a mess. Parking fines were tallied daily by one police department employee and monthly by another department employee — then counted twice in the city budget, a $500,000-a-year error."

wall street's financial manipulation and theft of billions in the financial crisis continues to have far reaching effects on this country.... or we could blame the unions for the housing crisis and recession.

Socialism at work. 'sides they got the Brown Ah for govenor.
More taxes, more taxes, more taxes.

I hope they split it in two.

It's the Golden Shower State.

And you know this...how?

Urine it.......you tell me.

He check out your facebook page.



You just put it on a tee Hank.

If I had a Faceplant page he wouln't have seen anything of the sort.

I have no feelings on golden showers other than WTF?

The "W" in that could be either 'Why' or 'What'..take your pick.

I just figure you Californians been pissin' all over yourselves for quite a while now.
Tell me I'm wrong.

(BTW....plenty of gov't folks up here with full bladders as well.....we're not far behind you.)

True Dat.

Two of my brothers are cops, both make well over $100,000 per year when you figure O.T.
The pension spiking is big too.
If you only take half of your vacation time fore several years then roll it over and cash it out, it gets the numbers pumped up for that three year average in a hurry.
If they retire with 20 years in they get 65% of their three highest earning years combined.
If they retire with 30 years of service it jumps to 90%.
Same with firefighters.
It's a helluva gig.