Editorial: Unions above taxpayers
May 14, 2010 Filed in: Unions
Editorial: The Orange County Register
Even modest pension reforms
are being fought tooth and nail by government unions. In the
delusional world of the state Capitol, Wall
Street shoulders
the blame for pension-fund shortfalls – not the unions or pension
funds or legislators who boosted pensions retroactively and missed
the mark by a country mile on their investment projections.
Taxpayers will have to pick up the slack for low-performing pension
funds. Programs will also need to be slashed. It says much about
the California Legislature that the dominant party would rather
embrace those choices than to pass modest reforms to excessively
generous pensions for future hires…