Home › Forums › Financial Markets/Economics › Non-salary CA budget cuts › I say let the state declare
I say let the state declare bankruptcy and then renegotiate the union contracts for ALL state workers.
Eliminate defined benefit and healthcare plans Institute defined contribution plans Eliminate lifetime healthcare after retirement
Bottom line, current and future expenditures on retirees is going to bankrupt this state–it’s happening already.
There is no justification for salaries AS HIGH or higher than the private sector IN CONJUNCTION WITH gold plated retirement benefits.
I mean, come on, retiring at 50 with 100% of your highest salary FOR LIFE?