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How California’s State and Local Governments Can Save $50 Billion Per Year

How California’s State and Local Governments Can Save $50 Billion Per Year

By Ed Ring  Back in the early 2000’s, in the aftermath of the internet bubble’s collapse, California’s state and local governments endured a period of austerity that resulted in “furloughs,” where, typically, employees would take Friday’s off in exchange for a 20% cut in their pay. That is, they worked 20% less, and made 20% less […]

Libertarians, Government Unions, and Infrastructure Development

Libertarians, Government Unions, and Infrastructure Development

“Alright, but apart from the sanitation, the medicine, education, wine, public order, irrigation, roads, the fresh water system and public health, what have the Romans ever done for us?” –  John Cleese, Monty Python’s Life of Brian, 1979 Any discussion of California’s neglected infrastructure has to recognize the three factors most responsible, libertarians, environmentalists, and […]

Minimum Wage – It’s All About Perception!

Minimum Wage – It’s All About Perception!

By  Dave Bego  , Recently, the “Fight for Fifteen” demonstrations at McDonald’s and Wal-Mart stores across the country have sparked empathy in the news coverage by the main stream media. The liberal coverage of these outlets portrays employees as being taken advantage of and in need of increased wages and benefits. As with most things […]

Pension Reformers are not “The Enemy” of Public Safety

Pension Reformers are not “The Enemy” of Public Safety

By Ed Ring  . “You will find that powerful financial and investment institutions are the ones promoting the attacks on your pensions. Firms like Berkshire-Hathaway and the Koch brothers are backing political candidates and causes all over the country in the hopes of making this issue relevant and in the mainstream media. Why? Because if […]

Pension Reform is BAD for Wall Street, and GOOD for California

Pension Reform is BAD for Wall Street, and GOOD for California

By Ed Ring . “His idea [Mayor Chuck Reed’s] of pension reform is, pill you sign up for one pension system, we’re going to change it now in mid career, and now you’re going to get something different.” Lou Paulson, President, California Professional Firefighters (ref. CPF Video,  April 1, 2015) The biggest problem with Mr. Paulson’s comment […]

The Amazing, Obscure, Complicated and Gigantic Pension Loophole

The Amazing, Obscure, Complicated and Gigantic Pension Loophole

“The bottom line is that claiming the unfunded liability cost as part of an officer’s compensation is grossly and deliberately misleading.”

The Financial Impact of Pension Obligations on Ventura County

The Financial Impact of Pension Obligations on Ventura County

By Ed Ring Reposted with permission of: http://unionwatch.org/ The rare problem of high pensions going to top public executives was solved last year by state legislation. Pensions will now be based on the salary cap for Social Security taxes: $117,000…  The highly exaggerated “unfunded liability” problem is resolving as the stock market and tax revenues […]