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SYRAVGEEK
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California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 4:41 pm

With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)
 
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SQ22
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 4:49 pm

Please remember to provide a link to a source when stating facts (= the budget surplus), thanks.
 
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casinterest
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 5:17 pm

Here is a link.

https://thehill.com/homenews/state-watc ... et-surplus

We will find out more Friday.
Newsom said in an address Monday that he would propose using much of the money to fund what he said would be the biggest economic recovery package in state history.

Newsom’s $100 billion proposal would add $12 billion more in direct payments to California residents, including $600 to most people and an extra $500 to families with dependents. The payments would go to families making less than $75,000 a year.
 
SYRAVGEEK
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 5:52 pm

casinterest wrote:
Here is a link.

https://thehill.com/homenews/state-watc ... et-surplus

We will find out more Friday.
Newsom said in an address Monday that he would propose using much of the money to fund what he said would be the biggest economic recovery package in state history.

Newsom’s $100 billion proposal would add $12 billion more in direct payments to California residents, including $600 to most people and an extra $500 to families with dependents. The payments would go to families making less than $75,000 a year.

Alright, I didn't know that
 
johns624
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 6:15 pm

Save it for a rainy day. The sun doesn't shine every day.
 
GalaxyFlyer
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 6:35 pm

If the revenue intake is so high, why is Congress sending Sacramento $42 billion out of the recent American Rescue Act? Maybe, it shouldn’t be borrowed in the first place, after all, Newsom should bribe the voters with his own money, not mine. Or, fund the $93 billion in current underfunded pension plans? Oh, that won’t buy votes.
 
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Moose135
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 6:40 pm

johns624 wrote:
Save it for a rainy day. The sun doesn't shine every day.

The world is in the middle of a monsoon...
 
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casinterest
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 6:42 pm

Most states are getting surpluses due to the acts that actually helped US citizens during this time of need. They were able to purchase more items and keep making investments that could not be accounted for when the aid was given. States, unlike the Federal Government usually are not allowed to make deficit spending choices, so any surplus is usually due to unintended consequences of a years economy.

You will find that many states will have surpluses when you search around the net.
 
GalaxyFlyer
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 7:42 pm

Moose135 wrote:
johns624 wrote:
Save it for a rainy day. The sun doesn't shine every day.

The world is in the middle of a monsoon...


Hardly, especially in the US where employers can’t find workers, inflation is climbing and the pandemic is over. Unless you’re scared of your shadow.
 
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lightsaber
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 7:44 pm

GalaxyFlyer wrote:
Moose135 wrote:
johns624 wrote:
Save it for a rainy day. The sun doesn't shine every day.

The world is in the middle of a monsoon...


Hardly, especially in the US where employers can’t find workers, inflation is climbing and the pandemic is over. Unless you’re scared of your shadow.

They need to halt paying people to stay home and restart the rental market.

This is the rainy season.

Lightsaber
 
windy95
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 7:50 pm

Perhaps clean up the garbage off the streets and provide shelter for the homeless. And fix the potholes while they are it. Or perhaps rebate the homeowners or lower their property taxes.
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 10:48 pm

windy95 wrote:
Perhaps clean up the garbage off the streets and provide shelter for the homeless. And fix the potholes while they are it. Or perhaps rebate the homeowners or lower their property taxes.


Very difficult to shelter the homeless when every NIMBY turns shelter proposals in their area into a long court battle.
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 10:50 pm

GalaxyFlyer wrote:
If the revenue intake is so high, why is Congress sending Sacramento $42 billion out of the recent American Rescue Act? Maybe, it shouldn’t be borrowed in the first place, after all, Newsom should bribe the voters with his own money, not mine. Or, fund the $93 billion in current underfunded pension plans? Oh, that won’t buy votes.


Whoa there cowboy, it’s not necessarily *your money*. CA contributes over 15% of *total* federal revenues.

https://www.moneyrates.com/research-cen ... -state.htm
 
PPVRA
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 11:10 pm

Fund your unfounded liabilities, California.
 
NIKV69
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 11:19 pm

Pensions maybe?
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 11, 2021 11:27 pm

Expanding Cal Fire’s requipment and manpower would make the most sense. Fixing potholes too.
 
GalaxyFlyer
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 12:03 am

Aaron747 wrote:
GalaxyFlyer wrote:
If the revenue intake is so high, why is Congress sending Sacramento $42 billion out of the recent American Rescue Act? Maybe, it shouldn’t be borrowed in the first place, after all, Newsom should bribe the voters with his own money, not mine. Or, fund the $93 billion in current underfunded pension plans? Oh, that won’t buy votes.


Whoa there cowboy, it’s not necessarily *your money*. CA contributes over 15% of *total* federal revenues.

https://www.moneyrates.com/research-cen ... -state.htm


Then $6 billion of the total is actually Californians’ money cycled thru DC. Why is that good idea? And why are the the other states paying California a total of $36 billion?
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 12:14 am

GalaxyFlyer wrote:
Aaron747 wrote:
GalaxyFlyer wrote:
If the revenue intake is so high, why is Congress sending Sacramento $42 billion out of the recent American Rescue Act? Maybe, it shouldn’t be borrowed in the first place, after all, Newsom should bribe the voters with his own money, not mine. Or, fund the $93 billion in current underfunded pension plans? Oh, that won’t buy votes.


Whoa there cowboy, it’s not necessarily *your money*. CA contributes over 15% of *total* federal revenues.

https://www.moneyrates.com/research-cen ... -state.htm


Then $6 billion of the total is actually Californians’ money cycled thru DC. Why is that good idea? And why are the the other states paying California a total of $36 billion?


CA spent almost 15 years on the donor state list before moving off it in 2018 (note: there were only eight donor states that year). Since the vast majority of states receive more federal monies than they pay in, it's still our money when all's said and done, and then some.

https://www.sfchronicle.com/politics/ar ... 243861.php
 
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STT757
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 3:43 pm

1. Economic support for families with household incomes below a certain threshold.
2. Investments into schools
3. Economic support for small businesses
4. Cash Incentives for companies to relocate to the State
5. California High Speed rail

*** New Stadium for Oakland A's***
 
SYRAVGEEK
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 3:48 pm

casinterest wrote:
Most states are getting surpluses due to the acts that actually helped US citizens during this time of need. They were able to purchase more items and keep making investments that could not be accounted for when the aid was given. States, unlike the Federal Government usually are not allowed to make deficit spending choices, so any surplus is usually due to unintended consequences of a years economy.

You will find that many states will have surpluses when you search around the net.

Something noteworthy in CA is when there are democratic governors (Brown, Davis, Newsom) they actually tax wealthy people, which generates a surplus (like what they have now).
 
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seb146
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 6:23 pm

GalaxyFlyer wrote:
Aaron747 wrote:
GalaxyFlyer wrote:
If the revenue intake is so high, why is Congress sending Sacramento $42 billion out of the recent American Rescue Act? Maybe, it shouldn’t be borrowed in the first place, after all, Newsom should bribe the voters with his own money, not mine. Or, fund the $93 billion in current underfunded pension plans? Oh, that won’t buy votes.


Whoa there cowboy, it’s not necessarily *your money*. CA contributes over 15% of *total* federal revenues.

https://www.moneyrates.com/research-cen ... -state.htm


Then $6 billion of the total is actually Californians’ money cycled thru DC. Why is that good idea? And why are the the other states paying California a total of $36 billion?


So let Kansas and Georgia and West Virginia just languish. Who cares about those people anyway, right?

Interesting how Republicans want us all to be united but when it is pointed out how we are all united, they complain. Go to your right wing extremists state legislatures and demand they stop taking government money. No more assistance for health care, food, or housing. No more road or airport repair. If you want schools, you need to pay 100% out of pocket. Then, after 10 years, let's compare.
 
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ER757
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 7:18 pm

Hang on to it for a few months and then use it to help pay to fight the inevitable wildfires come summer and fall. They are getting more frequent and more severe every year
 
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DL717
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 9:05 pm

SYRAVGEEK wrote:
With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)


Pay down their ridiculous debt. Pretty simple. All states should be doing this, but they won't. Better to spend it on more stuff and complain when the money runs dry. :roll:

https://www.forbes.com/sites/andrewdepi ... 0ea5278a3a
 
MaverickM11
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Re: California reports $75B Budget Surplus, what could it be used for?

Wed May 12, 2021 9:42 pm

Mail every CA bashing ad infinitum conservative a get well soon postcard? :rotfl:
STT757 wrote:
1. Economic support for families with household incomes below a certain threshold.
2. Investments into schools
3. Economic support for small businesses
4. Cash Incentives for companies to relocate to the State
5. California High Speed rail

*** New Stadium for Oakland A's***

Tax the churches. That includes sports stadiums.
 
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par13del
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Re: California reports $75B Budget Surplus, what could it be used for?

Thu May 13, 2021 12:12 am

So no one is questioning the wisdom of the financial experts who said the respective taxes and loans were needed to accomplish state goals, how could the experts be so wrong, we know they did not underspend.
How about during the pandemic, I thought the governor was on the news complaining that they were not getting adequate Federal support, was he only talking about goods and services, not money?
 
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seb146
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Re: California reports $75B Budget Surplus, what could it be used for?

Thu May 13, 2021 6:53 pm

par13del wrote:
So no one is questioning the wisdom of the financial experts who said the respective taxes and loans were needed to accomplish state goals, how could the experts be so wrong, we know they did not underspend.
How about during the pandemic, I thought the governor was on the news complaining that they were not getting adequate Federal support, was he only talking about goods and services, not money?


$200 million was threatened to be cut from California for Medicare because of abortion.

https://apnews.com/article/health-medic ... 5460bb628a

The former administration was waiting to see what to do but California took proactive measures and cut spending

https://apnews.com/article/virus-outbre ... 78b320f465
 
itsjustme
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 3:48 am

I guess Newsom will be have a few more dinners at French Laundry
 
itsjustme
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 3:53 am

seb146 wrote:
GalaxyFlyer wrote:
Aaron747 wrote:

Whoa there cowboy, it’s not necessarily *your money*. CA contributes over 15% of *total* federal revenues.

https://www.moneyrates.com/research-cen ... -state.htm


Then $6 billion of the total is actually Californians’ money cycled thru DC. Why is that good idea? And why are the the other states paying California a total of $36 billion?


So let Kansas and Georgia and West Virginia just languish. Who cares about those people anyway, right?

Interesting how Republicans want us all to be united but when it is pointed out how we are all united, they complain. Go to your right wing extremists state legislatures and demand they stop taking government money. No more assistance for health care, food, or housing. No more road or airport repair. If you want schools, you need to pay 100% out of pocket. Then, after 10 years, let's compare.


Anyone Democrat who has been preaching unity since 1-20-2021 is nothing but a hypocrite. Where was their unity from 2015-2020?
 
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EA CO AS
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 6:36 am

Money to residents? Evidently Newsom wants to buy off the electorate on the recall...
 
Virtual737
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 8:17 am

itsjustme wrote:
Where was their unity from 2015-2020?


Sat on their hands waiting for DJT to get off the golf course?
 
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seb146
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 3:23 pm

itsjustme wrote:
seb146 wrote:
GalaxyFlyer wrote:

Then $6 billion of the total is actually Californians’ money cycled thru DC. Why is that good idea? And why are the the other states paying California a total of $36 billion?


So let Kansas and Georgia and West Virginia just languish. Who cares about those people anyway, right?

Interesting how Republicans want us all to be united but when it is pointed out how we are all united, they complain. Go to your right wing extremists state legislatures and demand they stop taking government money. No more assistance for health care, food, or housing. No more road or airport repair. If you want schools, you need to pay 100% out of pocket. Then, after 10 years, let's compare.


Anyone Democrat who has been preaching unity since 1-20-2021 is nothing but a hypocrite. Where was their unity from 2015-2020?


Democrats were in the minority. Besides, Democrats are not the ones demanding unity. Republicans can not understand being in the minority and losing power. Look at the 1/6 attempted coup and how many still believe their dear leader is still in power.

California is a very diverse state. What happens for the good of Los Angeles and San Francisco has effects on places like Susanville and Needles. Things like affordable health care, affordable education, living wage, building codes, transportation projects. I think those rural Republicans should spend six months in right wing extremists states to see how their scheme would work. Basically, giving people nothing because gub'mint bad.
 
apodino
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 5:10 pm

seb146 wrote:
itsjustme wrote:
seb146 wrote:

So let Kansas and Georgia and West Virginia just languish. Who cares about those people anyway, right?

Interesting how Republicans want us all to be united but when it is pointed out how we are all united, they complain. Go to your right wing extremists state legislatures and demand they stop taking government money. No more assistance for health care, food, or housing. No more road or airport repair. If you want schools, you need to pay 100% out of pocket. Then, after 10 years, let's compare.


Anyone Democrat who has been preaching unity since 1-20-2021 is nothing but a hypocrite. Where was their unity from 2015-2020?


Democrats were in the minority. Besides, Democrats are not the ones demanding unity. Republicans can not understand being in the minority and losing power. Look at the 1/6 attempted coup and how many still believe their dear leader is still in power.

California is a very diverse state. What happens for the good of Los Angeles and San Francisco has effects on places like Susanville and Needles. Things like affordable health care, affordable education, living wage, building codes, transportation projects. I think those rural Republicans should spend six months in right wing extremists states to see how their scheme would work. Basically, giving people nothing because gub'mint bad.

I just finished reading a book called Fulfillment by Alec Macgillis and I would highly recommend it. In the book, he makes the argument that all the wealth and growth in this country has been limited to a few areas, at the expense of other areas. The story is mainly told looking at the growth of Amazon and the books focus is on Amazon, but the thesis is as I stated. So while wealth in places like New York, Washington, Austin, Seattle, and San Francisco has exploded, it has been at the expense of all these rural areas and the rust belt states. After reading this book, I am convinced that this is Deliberate by Corporate America, and it is something really that although both sides blame the others for, the causes actually go far beyond politics and I put absolutely no stock into whether these locations are run by Dems or Republicans.

More to your point, yes what happens in Los Angeles and the Bay Area does have an effect on places like Needles, Fresno, and the Napa Valley but not all of it is positive and because all the money is concentrated into these areas in the hands of a very few people, and with it political power, these other places are negatively affected. And one of the reasons I believe there is a budget surplus is because these people are the ones who all did well during the pandemic.

Politically speaking, this is the issue that Gavin Newsom needs to hit home on and as long as he stays on this message, there is no way he will be recalled, regardless of what you think about Caitlin Jenner.
 
SoCalPilot
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Re: California reports $75B Budget Surplus, what could it be used for?

Sat May 15, 2021 7:01 pm

seb146 wrote:
itsjustme wrote:
seb146 wrote:

So let Kansas and Georgia and West Virginia just languish. Who cares about those people anyway, right?

Interesting how Republicans want us all to be united but when it is pointed out how we are all united, they complain. Go to your right wing extremists state legislatures and demand they stop taking government money. No more assistance for health care, food, or housing. No more road or airport repair. If you want schools, you need to pay 100% out of pocket. Then, after 10 years, let's compare.


Anyone Democrat who has been preaching unity since 1-20-2021 is nothing but a hypocrite. Where was their unity from 2015-2020?
Besides, Democrats are not the ones demanding unity.

LOL! Democrats aren't calling for unity? What are you talking about? Biden called for unity in his inauguration speech!

A simple google search of "Democrats call for unity" will show a lot more since then also. I can't believe you actually just said that. :lol:
 
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stl07
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Re: California reports $75B Budget Surplus, what could it be used for?

Mon May 17, 2021 4:45 am

DL717 wrote:
SYRAVGEEK wrote:
With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)


Pay down their ridiculous debt. Pretty simple. All states should be doing this, but they won't. Better to spend it on more stuff and complain when the money runs dry. :roll:

https://www.forbes.com/sites/andrewdepi ... 0ea5278a3a

:checkmark: :checkmark: :checkmark:

I am actually very surprised at how well balanced the budget was this year
 
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stl07
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Re: California reports $75B Budget Surplus, what could it be used for?

Mon May 17, 2021 4:49 am

DL717 wrote:
SYRAVGEEK wrote:
With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)


Pay down their ridiculous debt. Pretty simple. All states should be doing this, but they won't. Better to spend it on more stuff and complain when the money runs dry. :roll:

https://www.forbes.com/sites/andrewdepi ... 0ea5278a3a

Actually, on second thought, we are probably gonna get more of those stupid "smart streets" which take away most of the lanes in a quest to somehow reduce pollution.

I hate this state and am actively looking to move to Miami or Chicago. What makes you want to stay? The only reasons I can see are jobs (that CA does have a lot of), family, or if you are super into nature. That's it.
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Mon May 17, 2021 4:55 am

stl07 wrote:
DL717 wrote:
SYRAVGEEK wrote:
With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)


Pay down their ridiculous debt. Pretty simple. All states should be doing this, but they won't. Better to spend it on more stuff and complain when the money runs dry. :roll:

https://www.forbes.com/sites/andrewdepi ... 0ea5278a3a

Actually, on second thought, we are probably gonna get more of those stupid "smart streets" which take away most of the lanes in a quest to somehow reduce pollution.

I hate this state and am actively looking to move to Miami or Chicago. What makes you want to stay? The only reasons I can see are jobs (that CA does have a lot of), family, or if you are super into nature. That's it.


*Raises hand* for super into nature. The only states I can actually live in are probably: CA, OR, WA, ID, MT, WY, AZ, CO, UT, AK, HI. There's some lovely scenery in NM, NV, and west TX, but a lot of those states are just more 'blah' than splendor. Appalachia is beautiful too, but the east and southeast are too humid.
 
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seb146
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Re: California reports $75B Budget Surplus, what could it be used for?

Mon May 17, 2021 4:15 pm

stl07 wrote:
DL717 wrote:
SYRAVGEEK wrote:
With the staggering budget surplus California has a multitude of options for using the money (Stimmy, infrastructure, loans, etc)
Any idea for what they could use the money for. (Mods feel free to merge topics if this has already been discussed)


Pay down their ridiculous debt. Pretty simple. All states should be doing this, but they won't. Better to spend it on more stuff and complain when the money runs dry. :roll:

https://www.forbes.com/sites/andrewdepi ... 0ea5278a3a

:checkmark: :checkmark: :checkmark:

I am actually very surprised at how well balanced the budget was this year


Even with a cut to income brought on by the pandemic, they still managed to have a surplus. And, if they pay off the debt they owe, California will end up with savings by like $25B.

https://en.wikipedia.org/wiki/2004_Cali ... %20revenue.

California legislature is required to pass balanced budgets every year.
 
slider
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Re: California reports $75B Budget Surplus, what could it be used for?

Mon May 17, 2021 6:25 pm

There is no budget surplus.

PENSIONS "Between the two pension systems, the state’s pension unfunded liabilities are estimated to total $93.1 billion ($59.7 billion at CalPERS for state employee pensions and $33.4 billion at CalSTRS for teachers’ pensions)."

RETIREE HEALTH: "Actuaries estimate that the state has only $874.3 million in assets for a liability of $86.5 billion—meaning the state has an unfunded retiree health liability of $85.6 billion."

https://lao.ca.gov/Publications/Report/ ... %20billion.
 
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Aaron747
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 18, 2021 12:09 am

slider wrote:
There is no budget surplus.

PENSIONS "Between the two pension systems, the state’s pension unfunded liabilities are estimated to total $93.1 billion ($59.7 billion at CalPERS for state employee pensions and $33.4 billion at CalSTRS for teachers’ pensions)."

RETIREE HEALTH: "Actuaries estimate that the state has only $874.3 million in assets for a liability of $86.5 billion—meaning the state has an unfunded retiree health liability of $85.6 billion."

https://lao.ca.gov/Publications/Report/ ... %20billion.


Unfunded public employee liabilities are not that way solely because of the legislature - the shortfall exists because the citizens who voted for those systems have not consistently voted to fund them. Also people like my grandmother who still receive more than $4k/month despite being well off are certainly not giving any of the money back :lol:
 
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lightsaber
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Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 18, 2021 2:39 pm

Aaron747 wrote:
slider wrote:
There is no budget surplus.

PENSIONS "Between the two pension systems, the state’s pension unfunded liabilities are estimated to total $93.1 billion ($59.7 billion at CalPERS for state employee pensions and $33.4 billion at CalSTRS for teachers’ pensions)."

RETIREE HEALTH: "Actuaries estimate that the state has only $874.3 million in assets for a liability of $86.5 billion—meaning the state has an unfunded retiree health liability of $85.6 billion."

https://lao.ca.gov/Publications/Report/ ... %20billion.


Unfunded public employee liabilities are not that way solely because of the legislature - the shortfall exists because the citizens who voted for those systems have not consistently voted to fund them. Also people like my grandmother who still receive more than $4k/month despite being well off are certainly not giving any of the money back :lol:

A huge debt of $1 trillion.
https://www.forbes.com/sites/chuckdevor ... r%20Alaska.

The people aren't voting for the pensions.

The state has no surplus when the pensions are considered. They are supposed to be paid out of the general budget.

Lightsaber
 
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Aaron747
Posts: 16604
Joined: Thu Aug 07, 2003 2:07 am

Re: California reports $75B Budget Surplus, what could it be used for?

Tue May 18, 2021 2:49 pm

lightsaber wrote:
Aaron747 wrote:
slider wrote:
There is no budget surplus.

PENSIONS "Between the two pension systems, the state’s pension unfunded liabilities are estimated to total $93.1 billion ($59.7 billion at CalPERS for state employee pensions and $33.4 billion at CalSTRS for teachers’ pensions)."

RETIREE HEALTH: "Actuaries estimate that the state has only $874.3 million in assets for a liability of $86.5 billion—meaning the state has an unfunded retiree health liability of $85.6 billion."

https://lao.ca.gov/Publications/Report/ ... %20billion.


Unfunded public employee liabilities are not that way solely because of the legislature - the shortfall exists because the citizens who voted for those systems have not consistently voted to fund them. Also people like my grandmother who still receive more than $4k/month despite being well off are certainly not giving any of the money back :lol:

A huge debt of $1 trillion.
https://www.forbes.com/sites/chuckdevor ... r%20Alaska.

The people aren't voting for the pensions.


Of course they are. Did you forget about Proposition 162? I know it was a long time ago, but it was huge.

https://ballotpedia.org/California_Prop ... t%22_(1992)

Or perhaps you forgot about the benefits expansions in SB400 in 1999? That was passed by a bipartisan majority in the lege - in effect, the whole state voted for it.

Efforts to take San Diego's Prop B statewide have been flailing for almost 10 years, especially after it got struck down in court. This is nowhere near as cut and dry as people make it out to be - Californians have indeed voted for this stuff - they just never ensured it was paid for.

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