LOS ANGELES -- California Treasurer Bill Lockyer is warning that the state teacher retirement system is rapidly running out of money. Lockyer predicts the plan that pays benefits to retired public school educators won't exist in 30 years unless it's fixed. The Ventura County Star reported (http://bit.ly/18MC0Wm ) Saturday that Lockyer says a budget expert recommends that the state kick in another $500 million of taxpayer dollars to the teacher fund for each of several years to cut its unfunded liability. He says if nothing is done the California State Teachers' Retirement System "implodes" in 30 years. The newspaper said his remarks were made in a speech in Ventura County Thursday.
Yet in the article by Dan Walters we find John Perez, the speaker of the California House is completely ignorant of the problem. Well Lockyer is not to be trusted, he was the idiot that proposed California IOUs as California official money. But Perez is definitely on the very stupid side. Nothing is real in California, its all fake in the government, mainly because Guv Brown has abolished clear thinking, no longer allowed.
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