California Dreamin'...or is it hallucinating???

These little known, and non-publicized California factoids (I wonder why?) should help make your decision very easy on the upcoming elections...absolutely shocking financial decisions were made under Gray Davis, that our State is paying dearly for today and into perpetuity unless something drastic changes...Our Governator and his 20 inch biceps couldn't even muscle the union firepower....ya they are that powerful....imagine if you had a union friendly governor....

- 80 cents of every Dollar of California’s revenues is spent on State Employees costs, compensation and benefits.

- California Revenues have risen by 29% over the past 10 years for the State, while pension costs have risen 2,500%!

- California is on the hook for $550 billion of State employees retirement debt, which is un-funded and promised by past governments.

- This year the cost of servicing that debt is $6 billion. Next year it will rise by 15% and rise again the year after until this payment will be just shy of $30 billion in 2020.

- This year California had $80 billion in revenues….so $30 billion on Retirement costs is ludicrous to contemplate; this money has no direct impact on the states current or future needs, but is all in arrears.

- Since 2007, Gov’t employee costs have been steadily moving higher, while over 1 million private jobs have been cut.....Who pays for these public sector increases? Oh thats right, the private sector is on the hook for these huge public cost increases....private sector is the one who's getting skewered right now....fair?

I want to ask a question which hopefully sheds some light on how California’s Public sector is absolutely running amok and taking advantage of its union powers.  According to the Department of Labor, 1 out of every 8 workers are in a union, which breaks down to 12.5% of all workers.  Why does California spend 80 cents of every Dollar it earns on State Employee (Current and past) costs?  Shouldn’t this number be closer to 12.5% instead of 80%?  After all, 1 out of 8 are in a Union, but we are currently shelling out Cash as if 6.4 out of 8 people are in a Union…..

.....Texas, Washington, Nevada, Alaska, Florida, Wyoming and South Dakota and their Zero State Income Taxes sound pretty good right about now huh?

For some quick perspective…back in 1945, just after WWII, Unions accounted for 33% of all American Workers, or 1 out of 3 people….so Union members have been whittled way down, however, zero progress has been made on the financial power and strangle-hold they have on our State and local governments!

We, Californian's are not dreaming anymore......we are Hallucinating if we think this is Sustainable!