[quote=jficquette][quote=jimmyle] Hey, I am glad CA is running out of money. They will have to fix the prob now. Get ready to receive your IOUs.[/quote]
CA’s game plan is to get bailed out by DC. They have no other plans to solve the problem.[/quote]
Not true. A lot is being done behind the scenes WRT pensions and pay. You will see the pension burden shift from the employers to the employees. Once the employees are solely responsible for the pension contributions, they will likely change the formula and increase the contributions dramatically. IMHO, this will result in ~20-30% pay cuts for public employees.
Again, I have no official or unofficial information about this, but have been watching the trends, and can see where it’s going.
Let’s see if they’re willing to tackle the immigration issue. In doing so, they can probably shave another ~25%+ from the state’s budget.
There are plenty of solutions, but we’ll have to see if anyone is willing to carry them out. Everything is a political minefield.
