Steven Greenhut Hosts KFI Talk Show on Sunday
Friend, author and staunch proponent of limited government Steven Greenhut will be hosting a 3 hour show on KFI AM 640 this Sunday from 7 – 10 PM. Tune in online at kfi640.com for a great show.
Steve has been busy lately. Last week he released a book titled “Plunder: How Public Employee Unions are Raiding Treasuries, Controlling Our Lives and Bankrupting the Nation”. In the book he argues that public workers earn more than other Americans and receive vastly superior benefits, creating an unsustainable burden on state and federal treasuries. The end result is higher taxes and massive debt.
Steve’s message has been getting an enormous amount of traction lately, primarily because a floundering economy has substantiated the truth that challengers like Steve have been warning us about for years: that big government equals big failure.
If we cut every government employee’s pay and benefits by 50% not one of them would quit, because none of them is worth even half of their compensation and couldn’t get a regular real job anywhere.
In the case of the government schools’ union teachers you could cut their pay by 90% and not one would quit because they are all ten times overpaid – FOR THE PROPAGANDA MONGERING THAT ACTUALLY CONSTITUTES THEIR ENTIRE STUPID JOBS, as they steal the educational opportunities and morality from children.
I hope Steve does not lump the State Teachers Retirement System with the Public Employees Retirement System and the other retirement systems because CalSTRS is much different from CalPERS and other systems. The average CalSTRS retiree works 29 years and receives $2,700 per month retirement pension. Before retirement each retiree contributed 8% of their salary to CalSTRS. Educators do not receive Social Security.
1% of retirees do receive $100,000 or more in retirement-mainly high paid superintendents. The State contributes approximately 4.5% to the CalSTRS fund which is much lower than most systems.
Minard, CalSTRS is so deep in the hole that it will need to increase contributions by 75% next year.
Even before the stock market crash, CalSTRS had an estimated “unfunded liability” of $22.5 billion over the next three decades.
So Minard, where is that money going to come from?