Pension costs have been a subject of concern for Republican leaders as well as citizens across the political spectrum over the past few years, but Democrats have sought to prevent pension reform to address the issue of these unfunded liabilities. It doesn’t come as a surprise that the League of California Cities projected pension costs to “dramatically increase to unsustainable levels.”
Much of the blame can be placed on the California Public Employees Retirement System (CalPERS), which has been out of control over the past few years. The group has sucked up over $20 billion in mandatory “employer contributions” from the state, local governments, and school districts, and that number is only projected to increase further.
The LCC report states that “evidence such as collections activities, requests for extensions to amortization schedules and information regarding termination procedures indicate that some public agencies are under significant strain.”
Some? Try all.
Public Pension Liabilities are on track to bankrupt not only San Diego, but all of California—and only Republicans seem to care. Though some Democrats voice their concerns regarding CalPERS constantly, they’re largely unwilling to make any attempt at a solution.
Though tax measures always pop up on the ballot, most go towards improving local services, not towards alleviating pensions. However, this is only a bait and switch. By increacing public funding for other public services, money in the budget is freed up in hopes of “fixing” the pension problem.
Why can’t our officials own up to the problems they’ve actually caused? The truth is that Democrats are tied up in alliances with many of the unions negotiating pension agreements, resulting in a severe conflict of interest that severely harms taxpayers.
It’s just another example of how partisan interests are being levied against taxpayers in unforgivable ways.
