Monday, May 22, 2017

Dan Walters piles onto Jerry Brown

However, given the history and Brown’s linear leanings, one should look askance at a new proposal in his 2017-18 budget to borrow $6 billion from an obscure state fund and give it to the California Public Employees’ Retirement System to whittle down rapidly increasing state pension obligations.The money would come from the Surplus Money Investment Fund, which makes short-term investments with money agencies don’t need at the moment, such as the new gas taxes just enacted for roadway repairs.
Short term cash keeps short term interest charges lower. Jerry will pay the price. 

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