PaleRider
Dan Walters is a huge strawman, no matter how much you jump up and down, I
posted nothing from him
Oh, my! Pale's doubling down on his lying!
Pale plagiarized a Dan Walters piece and presented it as his own. I archived his post.
82 PM: Palerider [Quote] -- 9:46am -- Fri, Feb 10, 17 pst
Palerider
For many years, the California Public Employees’ Retirement System and
other state and local pension systems have assumed earnings, technically
called the “discount rate,” in the 7.5 percent to 8 percent range, and
they seemed to be generally on target.
With that assumption, California’s unfunded pension liabilities – the gap
between what the funds expect to have and what retirees will be owed – are
roughly $450 billion.
That’s a big number, but investment earnings have stumbled in the last
couple of years. CalPERS gained 2.4 percent in 2014-15 and a minuscule 0.6
percent in 2015-16.
That generally was the experience of other California
and national systems as well.
Were pension fund overseers to drop their discount rates to the 4 percent
range, roughly the rate private corporate systems use, California’s
unfunded liabilities would probably surpass $1 trillion.
_____________
In fact the piece Pale presented as his own DID come from a right wing blog. And it IS an opinion piece. And here is the URL.
http://www.sacbee.com/news/politics-government/politics-columns-blogs/dan-walters/article100871752.html
483 PM: Palerider [Quote] -- 11:15am -- Fri, Feb 10, 17 pst
PaleRider
Oh, that single paste, I stand corrected, the more current estimate was
from Walters in the Sacramento Bee
But its not a blog either
Yes, it IS a blog. That's why it has an "About This Blog" section.
https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEgMDNIIHjwrSWlxZqriynwbt35Q_MfiSOzI7FBA46BkL5rUV4HRG56XBTHkcBRKIt3mSgcI8nDRB6cHXsLX47Px9ArPhmiUqym7HK6HFf656lbbGWV4-KB0PfngR0AbooGw7SQA-1Cntgg/s1600/opinion2.JPG
http://www.sacbee.com/news/politics-government/politics-columns-blogs/dan-walters/article100871752.html
