Showing posts with label retirement. Show all posts
Showing posts with label retirement. Show all posts

Friday, January 21, 2011

SF Lunatics have control of the asylum

San Francisco is trying to deal with a $360M budget deficit for the coming year, or maybe not "trying" after all.
Handing out $170M in cost of living bonuses doesn't seem a very effective way to fight a budget imbalance.
This fiasco follows the November 2010 defeat of a measure that would have made union employees pay more into their retirement.

The unfunded liability for retirements has tripled from last year to $1.6 Billion.
I wonder how much worse it has to get for the taxpayers in that city to wake up?