Compose a 1250 words assignment on california pension crisis: whos to blame. Needs to be plagiarism free! Several recent studies had estimated California’s unfunded pension debt at a staggering $500 billion and counting. The Sacramental Bee as late as November 10, 2010, quoting a Stanford study, put the debt for the states three pension systems at over $400 billion and local government pension systems at nearly $200 billion short. (Stanford Report says… par 1).
At the heart of the crisis is Legislatures 1999 decision to increase tax-guaranteed pensions for public safety workers and other public employees. Localities followed the state and gave nearly all public safety workers the right to retire at fifty, with ninety percent of their salaries. “The attitude was, Hey, we have a ton of money, let us give it away…’ There were a lot of deep thinkers there” (Saavedra and Joseph par 5). As is often the case, the state was in the economic“bubble” mindset of the rest of the country, and its behavior was very similar.
Calling for pension reform, Governor Arnold Schwarzenegger described the crux of the problem, charging that the pension debt had been understated to taxpayers and that the underfunded programs were “…
Show more
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more