You mean, like those jaw-dropping pensions public sector workers get? Those seem bizarre too. Seems petty to slag others’ benefits. https://twitter.com/markasaurus/status/1021986162414632960 …
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Replying to @TelstarLogistic
Can we all get healthcare coverage forever like all the SF city employees do when they cross the 5-year mark?
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Replying to @kimmaicutler @TelstarLogistic
I encourage this sort of argument that
@kimmaicutler is making, which points toward raising the bar for everyone, not maligning contracts that appear more lucrative than others' as the OP does.1 reply 0 retweets 5 likes -
Replying to @JakeMGrumbach @TelstarLogistic
I stole it from Jean Fraser, who used to run the San Mateo County health system.
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But also, yeah, we have to figure out how to pay for it. http://www.sfexaminer.com/san-francisco-officially-10-billion-hole/ …
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Replying to @kimmaicutler @TelstarLogistic
Yeah, the incentive structure for public sector pension contributions leaves them underfunded at every level--a huge problem. There is ***plenty*** of money to fund them, as this article (too subtly) implies, but no political capacity to do so.
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Replying to @JakeMGrumbach @TelstarLogistic
No political honesty and the public sector unions are really toying with public trust in the long-run. If voters are continually asked to pay more but their services get worse because the money is really going to people who no longer work there, they will continue to lose faith..
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Replying to @kimmaicutler @TelstarLogistic
That's a reasonable take on the politics of pensions, and there's some evidence of that kind of political backlash. But there's another equilibrium possible. Very tough for constrained local govts to do, but SF is less constrained than most.
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SF is not in a bad or horrible position because it’s a wealthy city/county but almost every dept every budget year is asked to shave 1-3% as the obligations crowd out service expansion.
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Replying to @kimmaicutler @TelstarLogistic
Right, but this is because the incentives point toward underfunding pensions (a good paper here on state pensions, tho it goes a bit overboard https://cloudfront.escholarship.org/dist/prd/content/qt8c82g4hf/qt8c82g4hf.pdf …). Changing the incentives so adequate taxation & funding happens is key
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Replying to @JakeMGrumbach @TelstarLogistic
How did I know it was going to be an Anzia paper?
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