California is land to the $100k minimum wage state worker: 220,000 highly-compensated state employees cost the public $35 billion.
There is one thing to discuss the minimum wage for servers and many others that work in the low paid service industry but it is another thing to discuss “underpaid” state workers. That statement cannot be said for California’s state employees. In a country where the median household income is $52,000 California seems to be […]
The largest pension fund in the country CalPERs continues to underperform: Weakest return since 2008-09 financial crisis.
The two largest public pensions in the U.S. are Calstrs and Calpers and collectively they oversea $484 billion for public workers in California. Pensions have a hard time surviving in a low return world. For example, these pensions seek out a 7.5% annual return which is simply unrealistic to do in a market that is […]
The $2.3 Trillion State and Local Government Debt Monster – California Pension Systems on Unsupportable Path with $500 Billion Projected Shortfall. CalPERS, CalSTRS, and UCRS.
Much of the focus on government debt over the past few years has revolved around the federal government. No doubt, this is a stunningly large amount. Yet the government has the ability to finance this debt through the U.S. Treasury and Federal Reserve with a buffet of choices. You have direct bailouts to Wall Street, […]