No wonder the smart people are abandoning California for the Lone Star State-- I keep hearing about that. Think it's just a matter of time before Texas secedes, taking their rodeos with them? I love how Texans manage to dig up all those totally wild domesticated rodeo animals, like those crazy horses-- where'd they get those? They seem to be in pain! Anyway, yeah. Pro-life, tho, that's what you meant to call it.
Anyway, Gov. Newsome is such a show-off isn't he? Doesn't Abbott hate him? Altho he usually keeps his mouth shut, compared to Greg.
We’ve been lucky. Jerry Brown was a conscientious steward of the state’s finances. Gavin has followed in his footsteps. Still, we are always one large tectonic slip along the San Andreas from economic crisis.
The cost of living is high (because so many people want to live here with an inadequate supply of housing) and we have our share of problems, but I love living in California. It's not perfect, but it's beautiful and vibrant and cultured and our leaders generally try to actually help (non-rich) people unlike states like Florida or Texas. We aren't the 5th-largest economy in the world and the most populous state in the nation by accident.
LA Times has a good series of stories on how California helps shape the nation: A series exploring the state’s vast impact on the nation
Not only surpluses, but nearly $20 billion in the Rainy Day Fund account alone (even after money was withdrawn at the start of COVID) plus a few billion more in smaller reserve accounts. Record surpluses even with being able to set aside $ for future emergencies and spending money to actually help regular people.
Yes, the younger generation got it through them, true. Not having lived through the bullshit, and followed her career, I can see where they might find the onslaught of propaganda believable.
You are partly correct. The 7% number is a conservative estimate. In reality, ten years down the road they might have made 12% or they might have made 4%. It can't be predicted with any specific degree of accuracy because no one knows what the economy will do over the next few decades.
Yes, the "unfunded liability" sounds huge. But that too is a projection that no one can predict with any specific degree of accuracy. It's looking forward decades and has nothing to do with any current balance sheets. CA has plenty of money to pay all its pensioners today and that will continue to be true for the foreseeable future. There is no pension crisis.
The CA pension system was ridiculously generous in the past. It was reformed in 2013 to be much more reasonable. It will take several years to see the effects of those changes -- basically when existing pensioners die off and are replaced by those hired after 2013.
In a nutshell, as a Californian, I am no more worried about CalPERS than I am about the national debt or social security. It's all funny money -- something that politicians use to stoke fear in voters in order to gain an edge in elections.
Some Republicans "flee" California because CA taxes (and because they don't like living in a place with a Democratic majority) but many (most?) people leave because housing is extremely expensive. More accurately: anywhere in CA people want to live is expensive. Our family left to look after aging parents but I miss CA all the time. Awesome weather and nice people. The only downside for us was wildfires which were not a small issue.
And the most interesting thing? In spite of the rich having to pay taxes they don't abandon the state and go live in shitholes like Alabama, which kind of gives the lie to the standard Rethuglican talking point about income taxes.
My first stop at LAX when I return from an out of state trip. Sweet home California.
https://uploads.disquscdn.c...
No wonder the smart people are abandoning California for the Lone Star State-- I keep hearing about that. Think it's just a matter of time before Texas secedes, taking their rodeos with them? I love how Texans manage to dig up all those totally wild domesticated rodeo animals, like those crazy horses-- where'd they get those? They seem to be in pain! Anyway, yeah. Pro-life, tho, that's what you meant to call it.
Anyway, Gov. Newsome is such a show-off isn't he? Doesn't Abbott hate him? Altho he usually keeps his mouth shut, compared to Greg.
We’ve been lucky. Jerry Brown was a conscientious steward of the state’s finances. Gavin has followed in his footsteps. Still, we are always one large tectonic slip along the San Andreas from economic crisis.
You can check out any time you want but you can never leave….
The cost of living is high (because so many people want to live here with an inadequate supply of housing) and we have our share of problems, but I love living in California. It's not perfect, but it's beautiful and vibrant and cultured and our leaders generally try to actually help (non-rich) people unlike states like Florida or Texas. We aren't the 5th-largest economy in the world and the most populous state in the nation by accident.
LA Times has a good series of stories on how California helps shape the nation: A series exploring the state’s vast impact on the nation
Not only surpluses, but nearly $20 billion in the Rainy Day Fund account alone (even after money was withdrawn at the start of COVID) plus a few billion more in smaller reserve accounts. Record surpluses even with being able to set aside $ for future emergencies and spending money to actually help regular people.
https://www.youtube.com/wat...
Nailed it!
Sure but all the new stuff is bukku bucks and sits half empty.
With all that surplus, how about some UBI?
Yes, the younger generation got it through them, true. Not having lived through the bullshit, and followed her career, I can see where they might find the onslaught of propaganda believable.
You are partly correct. The 7% number is a conservative estimate. In reality, ten years down the road they might have made 12% or they might have made 4%. It can't be predicted with any specific degree of accuracy because no one knows what the economy will do over the next few decades.
Yes, the "unfunded liability" sounds huge. But that too is a projection that no one can predict with any specific degree of accuracy. It's looking forward decades and has nothing to do with any current balance sheets. CA has plenty of money to pay all its pensioners today and that will continue to be true for the foreseeable future. There is no pension crisis.
The CA pension system was ridiculously generous in the past. It was reformed in 2013 to be much more reasonable. It will take several years to see the effects of those changes -- basically when existing pensioners die off and are replaced by those hired after 2013.
In a nutshell, as a Californian, I am no more worried about CalPERS than I am about the national debt or social security. It's all funny money -- something that politicians use to stoke fear in voters in order to gain an edge in elections.
Some Republicans "flee" California because CA taxes (and because they don't like living in a place with a Democratic majority) but many (most?) people leave because housing is extremely expensive. More accurately: anywhere in CA people want to live is expensive. Our family left to look after aging parents but I miss CA all the time. Awesome weather and nice people. The only downside for us was wildfires which were not a small issue.
Who will prosecute the homeless who take the $9K and return a week later?
Yes.
And the most interesting thing? In spite of the rich having to pay taxes they don't abandon the state and go live in shitholes like Alabama, which kind of gives the lie to the standard Rethuglican talking point about income taxes.