Sunday, April 2, 2017

Ask and answered

Pasadena: 
The City of Pasadena has a big budget problem on its hands.Beginning with the coming fiscal year, the City’s spending will begin to outgrow its revenue. And, ironically, the answer to the problem lies smack in the middle of the reason for the problem.The problem and the answer, experts agree, both fall under the heading of “pension costs.”As Mayor Terry Tornek said in his last “State of the City” speech, “Our [pension] cost during this time held in the lower $30 million range. Last year, it climbed to $39 million; four years out, the forecast is a whopping $65 million; a 100% increase in five years. And based upon recent CalPers actions, the number will get even worse.”
The Dill's Act has bankrupted California cities. Dems and their voters have known this for 20 years. At this point the collapse of pension must be considered a union plan. 

What happens in California politics that the Dems continue the drive to bankruptcy?

The legislatures ate not that smart about the relationship between DC and California.  The legislature get a bug up their ass to make the Swamp implement one of California's social programs.

The resulting volatility after decade of trying to co-adjust both system, eventually results in a huge bounce in pension liabilities, and it also results in incredibly stupid city and county politics.  The number of places for Kanosians to hide and steal is enormous, and uncontrolled.

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