The New York Times chronicles how public employee pensions are putting the hurt even on California’s affluent cities:
“San Jose now spends one-fifth of its $1.1 billion general fund on pensions and retiree health care, and the amount keeps rising. To free up the money, services have been cut, libraries and community centers closed, the number of city workers trimmed, salaries reduced, and new facilities left unused for lack of staff. From potholes to home burglaries, the city’s problems are growing.
“We’re Silicon Valley, we’re not Detroit,” said Xavier Campos, a Democratic city councilman representing San Jose’s poor East Side. “It shouldn’t be happening here. We’re not the Rust Belt.”
The 3 percent at 50 pension, allowing public employees to retire with 90 percent of their pay, is simply unaffordable. It is also hurting education. It has to go.