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November 4, 2009 at 10:12 AM #478183November 4, 2009 at 1:05 PM #477488Ash HousewaresParticipant
Re:
Just pass a ballot proposition that limits the increase in state spending each year to the following formula:CPI + (Estimated) Population Change (%)
It’s not perfect, but it would essentially keep state spending per capita constant in real dollars (roughly, that is). Had we done this a decade ago, we wouldn’t be in this mess.
Washington voted on a similar proposition yesterday, and the vote tally so far has it failing. The difference in WA was that it would limit state revenue growth rather than spending growth (to CPI+population). Any revenue above that would have been used to lower property taxes. The interesting thing is that it appears to have failed even in the conservative counties east of the Cascades.
For what it’s worth, public employees in my profession and experience level make about 40% more than their private sector counterparts in raw salary; I’m not even counting the extra benefits like retirement pay. I’d vote for something along the lines of public salary=private salary*frac, where frac could be negotiated by profession but ideally around 0.8 to account for the retirement perks.
November 4, 2009 at 1:05 PM #477659Ash HousewaresParticipantRe:
Just pass a ballot proposition that limits the increase in state spending each year to the following formula:CPI + (Estimated) Population Change (%)
It’s not perfect, but it would essentially keep state spending per capita constant in real dollars (roughly, that is). Had we done this a decade ago, we wouldn’t be in this mess.
Washington voted on a similar proposition yesterday, and the vote tally so far has it failing. The difference in WA was that it would limit state revenue growth rather than spending growth (to CPI+population). Any revenue above that would have been used to lower property taxes. The interesting thing is that it appears to have failed even in the conservative counties east of the Cascades.
For what it’s worth, public employees in my profession and experience level make about 40% more than their private sector counterparts in raw salary; I’m not even counting the extra benefits like retirement pay. I’d vote for something along the lines of public salary=private salary*frac, where frac could be negotiated by profession but ideally around 0.8 to account for the retirement perks.
November 4, 2009 at 1:05 PM #478026Ash HousewaresParticipantRe:
Just pass a ballot proposition that limits the increase in state spending each year to the following formula:CPI + (Estimated) Population Change (%)
It’s not perfect, but it would essentially keep state spending per capita constant in real dollars (roughly, that is). Had we done this a decade ago, we wouldn’t be in this mess.
Washington voted on a similar proposition yesterday, and the vote tally so far has it failing. The difference in WA was that it would limit state revenue growth rather than spending growth (to CPI+population). Any revenue above that would have been used to lower property taxes. The interesting thing is that it appears to have failed even in the conservative counties east of the Cascades.
For what it’s worth, public employees in my profession and experience level make about 40% more than their private sector counterparts in raw salary; I’m not even counting the extra benefits like retirement pay. I’d vote for something along the lines of public salary=private salary*frac, where frac could be negotiated by profession but ideally around 0.8 to account for the retirement perks.
November 4, 2009 at 1:05 PM #478108Ash HousewaresParticipantRe:
Just pass a ballot proposition that limits the increase in state spending each year to the following formula:CPI + (Estimated) Population Change (%)
It’s not perfect, but it would essentially keep state spending per capita constant in real dollars (roughly, that is). Had we done this a decade ago, we wouldn’t be in this mess.
Washington voted on a similar proposition yesterday, and the vote tally so far has it failing. The difference in WA was that it would limit state revenue growth rather than spending growth (to CPI+population). Any revenue above that would have been used to lower property taxes. The interesting thing is that it appears to have failed even in the conservative counties east of the Cascades.
For what it’s worth, public employees in my profession and experience level make about 40% more than their private sector counterparts in raw salary; I’m not even counting the extra benefits like retirement pay. I’d vote for something along the lines of public salary=private salary*frac, where frac could be negotiated by profession but ideally around 0.8 to account for the retirement perks.
November 4, 2009 at 1:05 PM #478326Ash HousewaresParticipantRe:
Just pass a ballot proposition that limits the increase in state spending each year to the following formula:CPI + (Estimated) Population Change (%)
It’s not perfect, but it would essentially keep state spending per capita constant in real dollars (roughly, that is). Had we done this a decade ago, we wouldn’t be in this mess.
Washington voted on a similar proposition yesterday, and the vote tally so far has it failing. The difference in WA was that it would limit state revenue growth rather than spending growth (to CPI+population). Any revenue above that would have been used to lower property taxes. The interesting thing is that it appears to have failed even in the conservative counties east of the Cascades.
For what it’s worth, public employees in my profession and experience level make about 40% more than their private sector counterparts in raw salary; I’m not even counting the extra benefits like retirement pay. I’d vote for something along the lines of public salary=private salary*frac, where frac could be negotiated by profession but ideally around 0.8 to account for the retirement perks.
November 4, 2009 at 1:11 PM #477498sdduuuudeParticipantThe cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.
November 4, 2009 at 1:11 PM #477669sdduuuudeParticipantThe cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.
November 4, 2009 at 1:11 PM #478036sdduuuudeParticipantThe cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.
November 4, 2009 at 1:11 PM #478118sdduuuudeParticipantThe cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.
November 4, 2009 at 1:11 PM #478338sdduuuudeParticipantThe cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.
November 4, 2009 at 2:22 PM #477567CA renterParticipant[quote=sdduuuude]The cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.[/quote]
Even I agree that the pensions are too generous, and need to be brought back to 2% @ 55: 2% of an employee’s highest base pay, which does NOT include overtime, multiplied by the number of years worked, and they can retire at 55.
Remember that these pensions were granted when the pension funds were fully funded (were “technically” over-funded), during the stock market bubble in the late 90s.
November 4, 2009 at 2:22 PM #477738CA renterParticipant[quote=sdduuuude]The cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.[/quote]
Even I agree that the pensions are too generous, and need to be brought back to 2% @ 55: 2% of an employee’s highest base pay, which does NOT include overtime, multiplied by the number of years worked, and they can retire at 55.
Remember that these pensions were granted when the pension funds were fully funded (were “technically” over-funded), during the stock market bubble in the late 90s.
November 4, 2009 at 2:22 PM #478106CA renterParticipant[quote=sdduuuude]The cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.[/quote]
Even I agree that the pensions are too generous, and need to be brought back to 2% @ 55: 2% of an employee’s highest base pay, which does NOT include overtime, multiplied by the number of years worked, and they can retire at 55.
Remember that these pensions were granted when the pension funds were fully funded (were “technically” over-funded), during the stock market bubble in the late 90s.
November 4, 2009 at 2:22 PM #478186CA renterParticipant[quote=sdduuuude]The cost of pensions where much the pain lies. Pensions are too generous, too expensive, and too poorly managed.
CA promised too much, then sent all the pension money down the shitter with dumb-ass investments. Now, they have to dump more money into the pension system to keep the promise, which was too much to promise in the first place.
Bankrupcy is the only way out.[/quote]
Even I agree that the pensions are too generous, and need to be brought back to 2% @ 55: 2% of an employee’s highest base pay, which does NOT include overtime, multiplied by the number of years worked, and they can retire at 55.
Remember that these pensions were granted when the pension funds were fully funded (were “technically” over-funded), during the stock market bubble in the late 90s.
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