OT Aguirres Last Play

[EconProf]

San Diego city finances are soooo screwed, and accordingly, so are taxpayers within city limits.
The original whistleblower you refer to is Shipione, an accountant, and her husband, equally vocal about the coming debacle, is Pat Shea, an attorney.
The looming fiscal train wreck for San Diego is still greatly underrated in magnitude due to my favorite niche subject: time lags. Several time lags are at work here which, when combined, will drop a grenade into the city council’s little party. One time lag is the reporting and recognition delay between the portfolio deterioration of the pension fund the end-of-reporting-period publication. Apply mark-to-market rules to today’s holdings and the pension fund is way underfunded relative to its promises.
Another unremarked lag comes from RE values falling and thus future property tax revenues falling as owners flood the county with assessment appeals. That lag is years long, and will slam county and school districts as well.
Yes, you can blame Peters, Manshaim (sp), and Atkins for this, all still in power, all still bobbing and weaving to dodge responsibility. The Union Tribune has been pretty decent about reporting the shennanigans over the years, but the public employee unions run the city.
Carl DeMaio is the one hope on the city council. Long a critic of city finances, he is conservative and one smart guy. Too bad April Boling, another critic and an accountant, lost to airhead Marti Emerald.

[SD Realtor]

EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.

At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.

Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.

[SD Realtor]

EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.

At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.

Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.

[SD Realtor]

EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.

At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.

Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.

[SD Realtor]

EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.

At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.

Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.

[SD Realtor]

EconProf thanks for the comprehensive explanation. What that damn council tried to do to Shipione after she blew the whistle on them was nothing short of horrific. Also thanks for the Pat Shea recognition for me. Of all the lunkheads running for mayor he was the only guy who had an ounce of reality from an economics standpoint. If people think our federal and state governments are trainwrecks then they should be very scared of the current local administration. Funny because you correctly pointed out the time lag and how bad things WILL BE as reality catches up. I am simply referring to how bad things are right now! I am pretty surprised that Sanders didn’t go to the feds like 3 other cities have already done to try to get bailout money.

At any rate for the health of the city the pension stranglehold must be broken. An assumption of declining revenues needs to be made and realistic budgets must be undertaken. Supporting antiquated pensions that have illegal benefits and unrealistic growth goals to be funded by taxpayers is shameful and if bankruptcy is the only way to break the process then damn do it now instead of later.

Agreed on April Boling. Great now we have some washed up newscaster in the council. Hopefully DeMaio will not catch a case of the stupids after being surrounded by idiots in the council.

[meadandale]

[quote=SD Realtor]Agreed on April Boling. Great now we have some washed up newscaster in the council.[/quote]

I can’t believe the idiots in my council district…..:(

[meadandale]

[quote=SD Realtor]Agreed on April Boling. Great now we have some washed up newscaster in the council.[/quote]

I can’t believe the idiots in my council district…..:(

[meadandale]

[quote=SD Realtor]Agreed on April Boling. Great now we have some washed up newscaster in the council.[/quote]

I can’t believe the idiots in my council district…..:(

[meadandale]

[quote=SD Realtor]Agreed on April Boling. Great now we have some washed up newscaster in the council.[/quote]

I can’t believe the idiots in my council district…..:(

[meadandale]

[quote=SD Realtor]Agreed on April Boling. Great now we have some washed up newscaster in the council.[/quote]

I can’t believe the idiots in my council district…..:(

[betting on fall]

Finally, a political topic I feel like commenting on.

Its not the job of courts to second guess public officials when they make bad decisions (or good decisions). Judges just make sure the proper processes were followed, and even on that they do (and should) give a benefit of the doubt to elected officials.

Its the job of the public to try to keep politicians from making dumb votes, not judges.

There is no doubt that the pension deal was a very stupid policy decision. Aguirre’s problem, however, was trying to use the legal process to overturn a bad policy decision and the legal process is not well suited to that. Good policy undoes bad policy. We need someone who can get the votes on the council to change the pension plan, or to vote to fire workers and live with the consequences- let’s see if our new council members can do that.

But the bottom line is that our political leaders failed us by making dumb pension deal. We have to live with that, and we can’t expect a judge to bail us out.

[betting on fall]

Finally, a political topic I feel like commenting on.

Its not the job of courts to second guess public officials when they make bad decisions (or good decisions). Judges just make sure the proper processes were followed, and even on that they do (and should) give a benefit of the doubt to elected officials.

Its the job of the public to try to keep politicians from making dumb votes, not judges.

There is no doubt that the pension deal was a very stupid policy decision. Aguirre’s problem, however, was trying to use the legal process to overturn a bad policy decision and the legal process is not well suited to that. Good policy undoes bad policy. We need someone who can get the votes on the council to change the pension plan, or to vote to fire workers and live with the consequences- let’s see if our new council members can do that.

But the bottom line is that our political leaders failed us by making dumb pension deal. We have to live with that, and we can’t expect a judge to bail us out.

[betting on fall]

Finally, a political topic I feel like commenting on.

Its not the job of courts to second guess public officials when they make bad decisions (or good decisions). Judges just make sure the proper processes were followed, and even on that they do (and should) give a benefit of the doubt to elected officials.

Its the job of the public to try to keep politicians from making dumb votes, not judges.

There is no doubt that the pension deal was a very stupid policy decision. Aguirre’s problem, however, was trying to use the legal process to overturn a bad policy decision and the legal process is not well suited to that. Good policy undoes bad policy. We need someone who can get the votes on the council to change the pension plan, or to vote to fire workers and live with the consequences- let’s see if our new council members can do that.

But the bottom line is that our political leaders failed us by making dumb pension deal. We have to live with that, and we can’t expect a judge to bail us out.

[betting on fall]

Finally, a political topic I feel like commenting on.

Its not the job of courts to second guess public officials when they make bad decisions (or good decisions). Judges just make sure the proper processes were followed, and even on that they do (and should) give a benefit of the doubt to elected officials.

Its the job of the public to try to keep politicians from making dumb votes, not judges.

There is no doubt that the pension deal was a very stupid policy decision. Aguirre’s problem, however, was trying to use the legal process to overturn a bad policy decision and the legal process is not well suited to that. Good policy undoes bad policy. We need someone who can get the votes on the council to change the pension plan, or to vote to fire workers and live with the consequences- let’s see if our new council members can do that.

But the bottom line is that our political leaders failed us by making dumb pension deal. We have to live with that, and we can’t expect a judge to bail us out.

[Author]

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