Commentary: Can California Find a Way Out of Its Pension Calamity? | PublicCEO

The latest reform effort wouldn’t solve the problem, but it at least would help keep it from getting worse. By Charles Chieppo. The longer you wait to solve a problem, the more painful the fix becomes. Californians are being reminded of that simple truth as their leaders attempt to grapple with the state’s snowballing public-pension …

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I find this problem disgusting for several reasons. Not to be negative, but the problem, which has been known for a long number of years, (1) evidences that the majority, no not each of them, but the majority of legislators and elected officers as a whole where these problems exist cannot be trusted to perform their duties or represent the voting tax paying public, (2) evidences that there must be absolute transparency and disclosure in governmental accounting and reporting, (3) evidences that there must be an independent watchdog entity that has legal authority to take action and stop these problems early when they happen, and (4) evidences that government will not police itself.

It is my understanding that the new government accounting rules might soon eliminate the ability of governmental entities to hide these unfunded liability problems. These changes should have been made long ago. And I’ll only believe that it is corrected when I actually see it.

Even with transparency the problems continue to exist, for example, with social security and the federal disability fund.

Young people should be screaming about these problems that have been caused for them, elder people should be screaming about these problems that have been created for them, and people in the middle should be screaming about being somewhere in the middle of these problems.

The gross mismanagement of these problems has been extreme. Kind of funny, isn’t it, that the governmental entities enact statutes and regulations over business entities but then violate the public trust and fail to keep their own houses in order?  Sorry to rant a little, but these problems really bother me.  Take care. Onward.

Dave Tate, Esq. (San Francisco / California),, and working on Tate’s Excellent Audit Committee Guide, Click Here.