Schwarzenegger declares California fiscal emergency
Jason P
Posts: 19,158
My old Governator has declared California a state-of-emergency on the fiscal budget. They currently face a $19 billion shortfall and I.O.U.s will need to be distributed again.
Schwarzenegger has said he will only sign a budget agreement if it includes an overhaul of the state's public pension system, which includes the California Public Employees' Retirement System, the biggest U.S. public pension fund, which he says poses one of California's greatest financial challenges going forward.
With all the problems the auto industry has had with pensions, isn't it about time to end this practice? At least w/ 401K, it is an optional plan. But that would mean less cash for the Unions to manage so I don't see a compromise coming soon.
http://news.yahoo.com/s/nm/20100728/pl_nm/us_economy_california;_ylt=AstJ3_aSwhkuxOmG1GmM6Xas0NUE;_ylu=X3oDMTNwZjNiODVpBGFzc2V0A25tLzIwMTAwNzI4L3VzX2Vjb25vbXlfY2FsaWZvcm5pYQRjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzUEcG9zAzIEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNzY2h3YXJ6ZW5lZ2c-
Schwarzenegger has said he will only sign a budget agreement if it includes an overhaul of the state's public pension system, which includes the California Public Employees' Retirement System, the biggest U.S. public pension fund, which he says poses one of California's greatest financial challenges going forward.
With all the problems the auto industry has had with pensions, isn't it about time to end this practice? At least w/ 401K, it is an optional plan. But that would mean less cash for the Unions to manage so I don't see a compromise coming soon.
http://news.yahoo.com/s/nm/20100728/pl_nm/us_economy_california;_ylt=AstJ3_aSwhkuxOmG1GmM6Xas0NUE;_ylu=X3oDMTNwZjNiODVpBGFzc2V0A25tLzIwMTAwNzI4L3VzX2Vjb25vbXlfY2FsaWZvcm5pYQRjY29kZQNtb3N0cG9wdWxhcgRjcG9zAzUEcG9zAzIEcHQDaG9tZV9jb2tlBHNlYwN5bl9oZWFkbGluZV9saXN0BHNsawNzY2h3YXJ6ZW5lZ2c-
Be Excellent To Each Other
Party On, Dudes!
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Our government is the potent, the omnipresent teacher. For good or for ill, it teaches the whole people by its example. Crime is contagious. If the government becomes a law-breaker, it breeds contempt for law; it invites every man to become a law unto himself; it invites anarchy. - Louis Brandeis
crap... all of that shooting and blowing things up, is bound to start a forest fire...
was like a picture
of a sunny day
“We can complain because rose bushes have thorns, or rejoice because thorn bushes have roses.”
― Abraham Lincoln
everyone of those guys died except for arnie ... probably not a good team to assemble for this job ...
"this stuff will make you a god damn sexual tyranosaurus. Just like me"
might be my favorite movie to quote of all time.
It is terrifying when you are too stupid to know who is dumb
- Joe Rogan
"turn around, turn around...ha ha ha ha ha!"
Where I'm not ugly and you're lookin' at me
Well he's not a hero in Caleee-forn-ya!!
Where I'm not ugly and you're lookin' at me
I'd take him over who's running Georgia, it could always be worse I just want to see more movies
so do the citizens of california
http://slumz.boxden.com/f5/jul-27-calif ... s-1400821/
Schwarzenegger is the governor of California not the mayor of bell, California
What's ur point? It's still CA isn't it?
By the way....I really dig your location :thumbup: