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Why not try engaging your brain before spewing another "think of the children" post onto the internets? Calpers has argued that California is legally obligated
by cmccabe 14y ago
Why not try engaging your brain before spewing another "think of the children" post onto the internets?
Calpers has argued that California is legally obligated to pay all pensions in full due to the California constitution. If the pension fund falls short, who do you think will suffer cuts? Hey, that's right. The kids of today, who will have to deal with fewer teachers, bigger classes, and so forth.
David Crane is arguing that we should actually fund the pension fund properly rather than using Enron-style accounting tricks and ridiculous assumptions to kick the can down the road. For saying this, he lost his seat on the board.
People deserve to know where their money is really going. If we need to pass an emergency tax to fund pensions, let's call it that, rather than dishonestly pretending it's to expand education.