Why Cities Are Broke: CA Public Pension Contributions Up 304% Over the Last Decade

Here is all you need to know why your city and others are lunging toward bankruptcy.
“In fiscal 2002-03, $545 million went to CalPERS pension payments, just after the Legislature started allowing pension spiking. The contribution rises to $2.2 billion for 2012-13, the fiscal year beginning July 1 – an increase of 304 percent the past decade.”
Money meant for public safety, roads, parks and libraries went to paying off sweetheart deals for union negotiated pensions.
Read more…

About goldcountrypatriots

This entry was posted in Uncategorized and tagged , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s