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Current Events => Economics => Topic started by: HAPPY2BME on December 03, 2016, 04:23:05 AM

Title: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: HAPPY2BME on December 03, 2016, 04:23:05 AM

by Tyler Durden
Dec 2, 2016 9:00 PM

Stanford Study Reveals California Pensions Underfunded By $1 Trillion Or $93k Per Household

    Stanford University’s pension tracker database pegs the market value of California’s total pension debt at $1 trillion or $93,000 per California household in 2015.

    In 2014, California’s total pension debt was calculated at $77,700 per household, but has increased dramatically in response to abysmal investment returns at California’s public pension funds that hover at or below zero percent annual returns.

    The Pension Tracker database (www.pensiontracker.org) is maintained by the Stanford Institute for Economic Policy Research (SIEPR) and is intended to help localize pension data by providing the ability to look up the market value of pension debt in any locality in California.


http://www.zerohedge.com/news/2016-12-02/stanford-study-reveals-california-pensions-underfunded-1-trillion-or-93k-household
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: Adam Wood on December 03, 2016, 04:25:40 AM
Good grief, how ridiculous. In response, I expect Governor Moonbat Moonbeam to promise every sewer worker in L.A. a shiny new Ferrari when they retire after 16.5 years on the job.
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: ADsOutburst on December 03, 2016, 10:01:56 AM
Quote from: Adam Wood on December 03, 2016, 04:25:40 AM
Good grief, how ridiculous. In response, I expect Governor Moonbat Moonbeam to promise every sewer worker in L.A. a shiny new Ferrari when they retire after 16.5 years on the job.
You mean... a Ferrari California?  :)
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: Adam Wood on December 03, 2016, 11:43:41 AM
Quote from: ADsOutburst on December 03, 2016, 10:01:56 AM
You mean... a Ferrari California?  :)
Heh!  Good one!
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: DumbAss Tanker on December 06, 2016, 02:50:17 PM
Now Kalifornistan, which is about to crash into a fiscal iceberg, has passed a law through both houses that affords State defenders to anyone the Feds try to deport.  Aside from the fact that defending illegals in Federal proceedings is likely something for which they can't legally use State funds, this can only hasten their sinking.
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: freedumb2003b on December 06, 2016, 02:59:52 PM
Quote from: DumbAss Tanker on December 06, 2016, 02:50:17 PM
Now Kalifornistan, which is about to crash into a fiscal iceberg, has passed a law through both houses that affords State defenders to anyone the Feds try to deport.  Aside from the fact that defending illegals in Federal proceedings is likely something for which they can't legally use State funds, this can only hasten their sinking.

They are ready to have their Federal funds pulled (which will happen after an expensive legal fight that they will lose).
Title: Re: Stanford Study Reveals California Pensions Underfunded By $1 Trillion
Post by: HAPPY2BME on December 07, 2016, 07:39:55 AM
Disgruntled Democrats Want A Constitutional Convention To Leave The Union  (http://conservativecave.com/index.php?topic=110723.0)