Wednesday, February 29, 2012

This is the craziest shit I've ever heard. And, I've heard a lot of crazy shit.

We all know Stockton California is preparing for bankruptcy, right? I wasn't even going to comment about it, because it isn't news that governments over promised benefits. Yet, when I heard this last night - I actually had to center myself. I took a shower and just stared into space I was so stunned. And, I live not all that far from Stockton, so, it surprised me that I hadn't heard this information before. Good job on keeping secrets Stockton!

At a minute twenty, the reporter says "Among it's financial mistakes, the city only required one month of service to be eligible for retiree health benefits for life".

Yes. For life.

The city deficit is about 35 million, but the liability for retiree health benefits in 450 million.

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