State Democrats Blast Call For Pension Cuts (Calif.)

[FreakinDJ]

Source: Associated Press

State Democrats Blast Call For Pension Cuts

Democratic lawmakers on Wednesday criticized a watchdog organization’s recommendation that California freeze pension benefits for current state and local government workers as the only way to swiftly rein in runaway liabilities that are threatening basic government services.

Stuart Drown, executive director of the Little Hoover Commission, told a legislative hearing that California’s public pension systems face soaring liabilities as baby boomers retire and live longer. The commission said obligations to retirees will become unsustainable in the future.

Read more: http://sacramento.cbslocal.com/2011/03/02/state-democrats-blast-call-for-pension-cuts/

[snappyturtle]

1. When are tptb going to realize that paying a portion of retirement

benefits is insurance that years down the road people don't cost even more when they are forced to apply for welfare..food stamps, whatever.
Can't they see the inequality and act accordingly and tax the elite and stop the warring?

[sarcasmo]

2. Looks like billionaires are going after pensions in every state.