National, state, and local governments policies are hurting families and economic opportunity.
For example, have you heard about California’s $100,000 Pension Club?
It’s an exclusive club of public workers, and it’s increased by 27% in the past year.
Any wonder cities are going bankrupt?
Across America, city, county and state governments have been:
- Cutting back on road repairs
- Not updating water supplies
- Endangering the public by not fully supporting local police
- Hurting kids by taking money meant for them and funneling it to bureaucrats and pensions.
- Raising fees, making living less affordable.
Let’s take a look at a couple of examples in California. Energy costs in California are 87.7% higher than the rest of the nation, including paying 77 cents a gallon more for regular gas. All because of regulations and taxes.
Or take CalPERS (The California Public Employees Retirement System) as an example. It manages the pension and health benefits for more than 1.6 million employees, retirees and their families.
According to the Stanford Pension Institute, CalPERS has an unfunded liability of $1.4 trillion … and growing.
Local government salaries in the $100,000 to $400,000 range are so high that – including the cost of overly generous pensions – it’s killing city services.
Police in Simi Valley got a zero percent salary increase for the next four years because all new revenue – 19% this year – is going to CalPERS.
In Long Beach, nearly 34% of the city’s 4,315 full-time workers receive a six-figure-plus base salary. A $100,000 salary is double the household income for the city.
The fire department has the highest percentage of “Pension Club” members, with 66.3% of their full-time employees making $100,000 or more.
They’re followed by the police department at 57.4%.
To add to the debt load, the second of three 3% pay raises just went into effect.
The answer? Cut back on excessive and unfair government salaries and cut back on abusive perks and pensions … or the entire state will go bankrupt.
While California is bad, this abuse of power is happening nationwide.
What do you think? Write me at [email protected]