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SACRAMENTO, Calif. (AP) -- Facing massive investment losses, the board of California's giant pension fund is asking the state to increase its contributions to employee retirement benefits by $600 million. The request, made during a board meeting Tuesday, comes as California grapples with a $19 billion budget deficit and a threat by Gov. Arnold Schwarzenegger to eliminate its welfare program. The contribution increase would be for one year starting in the fiscal year that begins in July. It is driven mainly by large investment losses by the California Public Employees Retirement System, the nation's largest public pension fund. The fund lost a quarter of its value during the 2008-2009 fiscal year. The governor says the pension system is unsustainable and drains money from other state programs.
Originally posted by boondock-saint
I foresee 10,000 prisoners released
I foresee 10,000 retired CA state workers losing pensions
I foresee 2Million+ not getting a welfare check July 1
I foresee 15,000 more teachers out of work June 1
I foresee CA Riots rivaled by none before
Originally posted by Wolf321
Originally posted by boondock-saint
I foresee 10,000 prisoners released
I foresee 10,000 retired CA state workers losing pensions
I foresee 2Million+ not getting a welfare check July 1
I foresee 15,000 more teachers out of work June 1
I foresee CA Riots rivaled by none before
I agree. I wonder if they are going to blame Arizona, the government, or capitalism in general at that point.
Originally posted by guohua
It'll be illegals go back or dog food for supper
Which do you think the Old People will demand?
Can You Say, Illegal Go Home?
Originally posted by boondock-saint
and yet they're gonna boycott AZ
for taking care of business.
What hypocrites !!!!
In CA::::::
I foresee 10,000 prisoners released
I foresee 10,000 retired CA state workers losing pensions
I foresee 2Million+ not getting a welfare check July 1
I foresee 15,000 more teachers out of work June 1
I foresee CA Riots rivaled by none before
Originally posted by detachedindividual
AZ did not "take care of business", they instigated a law reminiscent of Nazi Germany.
Why is it so hard for people to move beyond the knee-jerk responses?
On all your other points I agree, (though I don't think those will be the published numbers, if any are published).
And how exactly is it "hypocritical" to boycott a state that creates discriminatory laws and being in financial crisis yourself?
If anything, it's hypocritical for Calif to boycott AZ after passing laws restricting the rights of their gay citizens!
That's hypocritical!
Originally posted by detachedindividual
Originally posted by boondock-saint
and yet they're gonna boycott AZ
for taking care of business.
What hypocrites !!!!
In CA::::::
I foresee 10,000 prisoners released
I foresee 10,000 retired CA state workers losing pensions
I foresee 2Million+ not getting a welfare check July 1
I foresee 15,000 more teachers out of work June 1
I foresee CA Riots rivaled by none before
AZ did not "take care of business", they instigated a law reminiscent of Nazi Germany.
Why is it so hard for people to move beyond the knee-jerk responses?
On all your other points I agree, (though I don't think those will be the published numbers, if any are published).
And how exactly is it "hypocritical" to boycott a state that creates discriminatory laws and being in financial crisis yourself?
If anything, it's hypocritical for Calif to boycott AZ after passing laws restricting the rights of their gay citizens!
That's hypocritical!
AZ did not "take care of business", they instigated a law reminiscent of Nazi Germany.
Originally posted by Wolf321
Originally posted by guohua
It'll be illegals go back or dog food for supper
Which do you think the Old People will demand?
Can You Say, Illegal Go Home?
But what will the story be then? What about the poor illegals who deserve a chance at the American Dream? How will they get the illegals out, they will have to identify them first..but...wont that require demanding their papers? I thought that was racist and racial profiling.
Let's see how that whole lack of reason and forethought pan out then.
Originally posted by Daughter2
If anything destroyed the State was the stupid property tax freeze.
Originally posted by detachedindividual
AZ did not "take care of business", they instigated a law reminiscent of Nazi Germany.
Originally posted by detachedindividual
Why is it so hard for people to move beyond the knee-jerk responses?