Saturday, November 19, 2016

Liars in LA

We like to give LA politicians the benefit of the doubt since they have agreed to house the  world's homeless and sick.  But as the world sends their poverty classes to California for the 'cure' it just seems they stay and LA gets stupider.
Los Angeles officials often boast about how they stemmed the rising cost of employee pensions, an expense that has hobbled cash-strapped cities throughout California.
Former Mayor Antonio Villaraigosa said changes he oversaw in 2011 and 2012, which included lower pensions for new employees and higher retirement contributions from city workers, were “the most far-reaching effort in the nation.” Mayor Eric Garcetti echoed that assertion this year, saying L.A. had “done the most pension reform in the country of any big city.”
The city’s general fund payments for pensions and retiree healthcare reached $1.04 billion last year, eating up more than 20% of operating revenue — compared with less than 5% in 2002.Yet the numbers tell a story jarringly at odds with the political rhetoric, a Times analysis found. Today, Los Angeles taxpayers are underwriting retirement benefits that are among the nation’s most generous — at a cost that has never been higher.

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