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The big splash you hear is the sound of California sliding into the Pacific Ocean under the...

The big splash you hear is the sound of California sliding into the Pacific Ocean under the weight of its pension obligations, as the number of retired government workers receiving annual pensions in excess of $100K hits 12,199 - a 25% Y/Y increase.
Comments (14)
  • Hubert Biagi
    , contributor
    Comments (696) | Send Message
     
    The government has made lots of people multimillionaires. Where is the outrage over this?
    10 May 2012, 10:58 AM Reply Like
  • Valley Boy
    , contributor
    Comments (2193) | Send Message
     
    We Californians get to express our outrage by voting intelligently on some ballot measures.
    http://1.usa.gov/JDE6ZE
    10 May 2012, 11:40 AM Reply Like
  • Hubert Biagi
    , contributor
    Comments (696) | Send Message
     
    Ballot initiatives are cop outs. Where's the leadership here? We are supposed to be a representative, not a populist, form of government.
    10 May 2012, 12:23 PM Reply Like
  • Valley Boy
    , contributor
    Comments (2193) | Send Message
     
    Our politicians can get by with ignoring our wishes by leading us into situations they like but we ordinarily don't. But they can't ignore our ballot votes because with those we share in making the laws.
    10 May 2012, 01:09 PM Reply Like
  • kmi
    , contributor
    Comments (4018) | Send Message
     
    Hah, "representative" has gone the way of the dodo bird, replaced by accusations of 'backpedaling' on positions taken 10, 15, 20 years ago in response to a different electorate, or a different set of circumstances.

     

    Nowadays, a politician changing his position is obliterated in the media and by common opinion, since that makes for an easy target. Changing one's position to reflect the opinion of one's constituency is simply political suicide.
    10 May 2012, 02:12 PM Reply Like
  • Poor Texan
    , contributor
    Comments (3529) | Send Message
     
    "Changing one's position to reflect the opinion of one's constituency is simply political suicide."

     

    Didn't Obama just do that today?
    10 May 2012, 03:45 PM Reply Like
  • kmi
    , contributor
    Comments (4018) | Send Message
     
    I was just describing the current state of affairs, not supporting it.

     

    I want my representatives to represent. Even when that means backpedaling on positions they once held.
    11 May 2012, 10:03 AM Reply Like
  • saratogahawk
    , contributor
    Comments (1800) | Send Message
     
    Hate to say it but California continues to make itself a US disaster and more and more irrelevant. How can an economy survive the onslaught of bureaucracy that occurs in Cal?
    10 May 2012, 11:05 AM Reply Like
  • Eightball
    , contributor
    Comments (134) | Send Message
     
    Irrelevant? It has more than twice the number of millionaires as the next state. It has by far the largest economy of any state, more people than any other state, etc. What a silly thing to say.
    10 May 2012, 12:20 PM Reply Like
  • davidbdc
    , contributor
    Comments (3153) | Send Message
     
    How many of those millionaires are government employees???

     

    I do agree that California is relevant. But its living off the past. Yes, Silicon Valley, Hollywood, Vineyards, etc will continue to be strong. But way too many industries have packed up for other states, and the budget situation is a joke.

     

    Government pensions should be capped at the median wage for the state. I cannot understand how the populace of the state isn't outraged at the pay, benefits, and perks given now to "public servants". Its simply generational theft.

     

    I just hope that enough folks are outraged that there is never a bailout of California or Illinois. Let the people that allowed these stupid things to exist to live with the long term misery they create.
    10 May 2012, 01:15 PM Reply Like
  • saratogahawk
    , contributor
    Comments (1800) | Send Message
     
    Of course, California is relevant but often for the wrong reasons. I wish the state well but I am not optimistic they can get these massive spending urges under control. Its like watching a drug addict. The state is addicted to bureaucracy and overspending. As a businessman I would not try to start a new business there or move a profitable business to California. Frankly, I also don't want to pay 7 figures for a crackerbox house. Not much better where I live in New York state but some states still are practical and rational. It really is time to rein in government and reinvigorate the private sector that has always been America's growth engine.
    10 May 2012, 02:30 PM Reply Like
  • davidingeorgia
    , contributor
    Comments (2713) | Send Message
     
    And the swirling sound you hear shortly thereafter will be the rest of the country following California down the drain.
    10 May 2012, 11:48 AM Reply Like
  • WMARKW
    , contributor
    Comments (10291) | Send Message
     
    Hey,
    "East Coast pensions are hip now,
    I really dig those styles the wear...
    But I wish they all could be California pensions.....
    (Beach Boys) circa 1965
    10 May 2012, 02:23 PM Reply Like
  • saratogahawk
    , contributor
    Comments (1800) | Send Message
     
    Hey, I work in the private sector. We ain't got no satisfaction. I mean pensions.
    10 May 2012, 02:25 PM Reply Like
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