Thursday, May 05, 2011

Why California is broke

The Si Valley paper reports:
According to reporting by Bay Area News Group, the average salary of a 30-year state employee is actually $67,000, on top of Social Security benefits that bring the annual retirement income to nearly $90,000 for many.
What is wrong here is that present-day taxpayers are on the hook for crooked political deals that were made 10 or 20 years ago. Upholding these pension contracts is incompatible with republican government.

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