The elected officials at the city, county, state and federal level have voted to give themselves and public employees pensions that have created an unfunded liability The two largest funds are CalPERS and CalSTRS have reported have reported gaps of more than $138.9 billion and $107.3 billion, respectively. In order to pay these pensions you and I will need to cover the deficit with higher taxes.
The men and women we have elected to serve us have used their legislative powers to redistribute our wealth into their pockets. The people receive social security checks when they retire while the government employees will receive guaranteed pensions of up to $100,000 or more.
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