[quote=harvey]Not a single mention of the word ‘shortfall’ in all of that.
All the links with your ‘proof’ are from biased or sketchy sources: “CalPERS Responds” ??
Why no major newspapers? Why can’t you get your “facts” from the NY Times, the LA Times, or the Economist, etc. like everyone else here?
None of my assertions are false. I said that nobody ever gave CalPERS an IOU. That is a fact.
Yup, CalPERS mismanaged the funds, underestimated the required contributions, overestimated returns. The unions were complicit. We know all that. We’ve said all that already.
And now CalPERS is trying to cover their asses with their “CalPERS responds” propaganda. And you swallow it whole.
Do you get why people call you an anvil?
Not once did you mention the word ‘shortfall’ in all that long-winded crap.
Once again, you completely avoided the crux of the issue.
You can come up with twisted explanations of blame all you want.
Fact is, there is huge bill due.
Who is going to pay it?[/quote]
Pri,
Where do you think the newspapers get their info? I’m citing the primary source, which is more credible than any other source.
Maybe it’s the reading comprehension problem again, but one of the reasons for the SHORTFALLS is the fact that public employers (READ: TAXPAYERS) paid little to nothing toward pensions during the good years. The unions fought them on this, but lost.
It’s funny that nobody — especially taxpayer advocacy groups/privatization proponents — were commenting on the SAVINGS that were a result of the market bubbles. It’s only when the bubbles burst and employers have to make up for the years that contributions weren’t made that this issue is bandied about in the MSM. Gee…I wonder why? Think there might be an anti-union/anti-worker agenda? Guess what? If you or any member of your family works for a living, you will be hit by this, too. You will not save any money or make any additional money as a result of weakening unions.
You need to understand WHO is behind the attacks on unions, and WHY. Ignore this at your own (and every other public and PRIVATE sector worker’s) peril.
