"Pension Spiking Will Cost Californians"

Economist Gary Galles notes a problem that we'll see a lot more of unless taxpayers wake up.

Comments

[JorgXMcKie]

You would not believe, and I'm serious about that, you would not believe how hard it is for my budget students to accept that this sort of budgeting/behavior is a bad thing. Of course, they're studying to be public administrators and many of them are already working for local governments in Michigan. Thus, they apparently believe you can make undeliverable promises about pensions and just expect the money to be there when they want it.

I usually get most of them to come around, but my Program Director tells me he gets a couple of complaints a year from my budget students who are very unhappy with me over this.

Maybe if GM and Ford get into even more trouble they'll pay better attention.