California’s Brown Raises Prospect of Pension Cuts in Downturn

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“California Governor Jerry Brown said legal rulings may clear the way for making cuts to public pension benefits, which would go against long-standing assumptions and potentially provide financial relief to the state and its local governments.

Brown said he has a “hunch” the courts would “modify” the so-called California rule, which holds that benefits promised to public employees can’t be rolled back. The state’s Supreme Court is set to hear a case in which lower courts ruled that reductions to pensions are permissible if the payments remain “reasonable” for workers.

“There is more flexibility than there is currently assumed by those who discuss the California rule,” Brown said during a briefing on the budget in Sacramento. He said that in the next recession, the governor “will have the option of considering pension cutbacks for the first time.”

https://www.bloomberg.com/news/articles/2018-01-10/california-s-brown-raises-prospect-of-pension-cuts-in-downturn

Downturn? What a bunch of ass wipes

Texas and all the other states that California residents and businesses are fleeing to have no downturn

Right now everything is indicating that the economy is booming and may hit 4% growth

Bloomberg is calling it a down turn while the market is at 25,000

It is socialism, not a down turn

And it is being offered up to anyone who can run , jump or swim across the border (No wonder there are no Mexicans in the Olympics)

Just more propaganda from the left wing media

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One response to “California’s Brown Raises Prospect of Pension Cuts in Downturn

  1. This doesen’t surprise me; Future-Ex-Wife and I were living in San Jose in 1981-84. I recall that at least one of those years her Cal State Income Tax refund came in the form of a voucher, which meant “We’re paying you now, but you can’t cash this until XXX days in the future.”
    And notice this only kicks in in the case of “a recession” which appears to be a long way down the road, long after The Space Cadet and his cronies have departed the pattern.
    OTOH, Embrace teh suck Cal State public employees!

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