By Larry Sand
Teachers and other public employees use “air time” to pick your pocket. The California State Teachers Retirement System tries calming words. David Crane tells the truth and loses yet another job.
Saying that the state teachers’ retirement system is underfunded is the understatement of this or any year and now, CalSTRS is giving us specifics. On December 27th, it said,
“Recent media reports have suggested that to solve the unfunded liability the state will have to increase CalSTRS funding by $3.8 billion a year for 30 years for a total of more than $114 billion. Although this is an accurate statement based on current projections, achieving adequate funding can occur several ways that would be phased in over time. The CalSTRS $56 billion funding shortfall can be managed, but it will require gradual and predictable increases in contributions.”In fact, saying that the shortfall has to be “managed” is like saying that World War II had to be managed. No, the reality is that there has to be major destruction and rebuilding, no matter how unpopular this will be with the beneficiaries of the theft, their unions and their kick-the-can-down-the-road buddies in Sacramento who are occasionally known as legislators. Tinkering around the edges and “managing” the problem will do little.
Thursday, January 5, 2012
State sponsored Thievery
How will our government continue to promise and to spend. Have you noticed you are paying more in taxes and receiving less for said. I was leaning toward Romney with my vote, but I saw him with McCain and they both just look like politicians. A favor returned by Romney after bowing to McCain and leaving the race so McCain could take his rightful place in line last election? I held my nose when I voted for Mr. McCain last time round and although a war hero of many years past, it is past time for him to retire, he is part of the problem our country is in today.