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September 13, 2011 Tonight live at 8PM PT: Tonight on Gadfly Radio, Ben Boychuk of CA City Journal joins me as we talk with John Seiler of CalWatchDog.com, with special guest Marcia Fritz CPA, President of California Foundation for Fiscal Responsibility.
Yesterday Flashreport published an op-ed called REFORM PUBLIC PENSIONS OR PERISH, co-authored by Carl DeMaio, San Diego City Councilman and Jon Coupal, President, Howard Jarvis Taxpayers Association.
Today, John Seiler posted a follow up piece in what appears to be a back and forth rally between he and CalPERS, titled CalPERS Misleads Members on 20.7% Gain.
On Sept. 1, I wrote an article on CalWatchDog.com, “CalPERS Still Boasting of 20.7 Percent Gain,” which was what they made from July 1, 2010 to June 30, 2011. In the subsequent two months, the fund had dropped 4.4 percent. Yet, as I reported, CalPERS still was boasting of the 20.7 percent in the fall number of PERSpective, the newsletter mailed to its members in late August.We'll talk about the issue, the spin from CalPERS, and the dire straights of California's economy tonight on Gadfly Radio.
Some members must have griped to CalPERS because, on Sept. 12, it responded to me, by name, on its CalPERS Responds Web site. There’s no link to my original article, so members can’t easily check for themselves what I actually said.
Today I had an exchange with a very nice man who is offended by this 'tirade' by angry taxpayers to reform what the voters approved in terms of Public Employee Pensions and benefits. We'll definitely discuss this point with Marcia Fritz, John Seiler and Ben Boychuk tonight.
Should taxpayers bleed their jobs, assets, disposable income, city services and more for the sake of being held to fulfill on promises we agreed to, even if we didn't know what the formulas amounted to, or didn't understand what they meant in terms of size of retirement incomes? He thinks yes. This is the battleline. I'm for hugging our adversary and saying we're all in this together. What is unsustainable is unsustainable and there are consequences for not addressing destructive policy. For the sake of a healthy economy and communities, we have to reform.
Ben Boychuk is reporting live with Parent Revolution’s First-of-its-Kind Parent Power Express Bus Tour in Los Angeles TODAY!
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