Wednesday, June 06, 2012
CA Voted Too
Voters in two major California cities overwhelmingly approved cuts to retirement benefits for city workers in what supporters said was a mandate that may lead to similar ballot initiatives in other states and cities that are struggling with mounting pension obligations. ...There will now be lawsuits, but courts are more accepting of initiative-based cuts. Both of these measures affect current participants as well as future participants.
In San Diego, 66 percent voted in favor of Proposition B, while 34 percent were opposed. Nearly 97 percent of precincts were tallied by early Wednesday. The landslide was even bigger in San Jose, the nation's 10th-largest city. With all precincts counted, 70 percent were in favor of Measure B and 30 percent were opposed.
It is high time these pensions were indexed to tax revenue growth.
It seems like there was a major scandal last year in the San Diego area? It was a mostly hispanic community, where the mayor and councilfolks were getting ridiculous amounts of money for benefits. Wish I could remember more details on it.
Something's got to give. San Diego cut its workforce by about 14% and San Jose by about 27%, still you see those numbers.
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