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Last updateThu, 04 Feb 2016 4pm
Wake up people, they are not looking out for you

Wake up people, they are not looking out for you

Keep electing the same asshats over and over again and ...

Gun Regulation Rhetoric Misses the Mark

Gun Regulation Rhetoric Misses the Mark

And the incessant posturing endangers every American, r...

"If in the opinion of the people...

Never mind, that notion slipped away long ago, buried i...

OP/ED

SETTING

Greedy Unions Raid Pensions, Then Blame Wall Street

IBD Editorial:

Reports from a variety of media reveal California state employees are spiking their pensions to stratospheric levels, leaving nothing for their brother employees. Sorry, can't blame Wall Street for this one.

In a laudable instance of the mainstream media doing its job, the Los Angeles Times, the Sacramento Bee, Bloomberg News and City Journal have all exposed "pension spiking" by California public employees. Basically, they manipulate rigid unionized pay and promotion systems to raise their pensions well above what they earned during their working years.

The Los Angeles Times on Saturday pieced together tough-to-get data from Kern and Ventura counties and found a fiscal horror story: In Kern, 77% of public employees with pensions greater than $100,000 actually get more than they did during their working lives.

In Ventura, the figure is 84%. Kern has a $761 million pension shortfall, in part due to the practice.

Both the practice and the lack of transparency are signs of a rotten system. Bigger counties like San Diego and Los Angeles also permit pension spiking.

But L.A. asked the Times to fork over $63,000 for "research" or they won't reveal a thing. Seems it doesn't bother these bureaucrats to pay out the spiked cash, but knowing how much it is is too much of a bother.

That "not my job, mac" mentality brings to mind that California, according to City Journal, is ruled by a triumvirate of public employee unions — the California Teachers' Association, the public safety unions and the Service Employees International Unions — all of whom pay politicians off to let them spike their salaries. ... continues...

" No country upon earth ever had it more in its power to attain these blessings than United America. Wondrously strange, then, and much to be regretted indeed would it be, were we to neglect the means and to depart from the road which Providence has pointed us to so plainly; I cannot believe it will ever come to pass. "
--George Washington, letter to Benjamin Lincoln, 1788

Please consider contributing, if only a couple of bucks, the cost of countering the liberal media is arduous and costly.

  

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