Monday, June 20, 2011

San Francisco is Doomed

The average city pension to SF retirees is $46,272, while the average per capita income of San Franciscans is $44,373. But as the private sector continues to flounder -- as more businesses choose to leave California entirely -- average private sector incomes are not likely to rise quickly. Government retirement income, on the other hand, is likely to sky-rocket as union negotiated payouts expand on a generously pre-programmed schedule. More from SFGate:
The average retiree from San Francisco city government earns an annual pension of $46,272, according to the San Francisco Employees' Retirement System. The average retiree who worked at least 30 years in city government earns an annual pension of $76,981.

The average pension for a retiree from the Fire Department is $108,552. From the Police Department? $95,016. And everybody else? $41,136.

The figures show most retirees aren't getting anywhere near the fat packages that outrage many city residents - like the $264,000 pension paid to former Police Chief Heather Fong last year. [ed.: This paragraph is disingenuous, as the upward trend for pension payouts is exploding upward, and out of control. Look at the trends -- where things are going. Not at where they have been.]

But city retirees are doing pretty well compared with working San Franciscans....Per capita income is $44,373.

Public Defender Jeff Adachi is gathering signatures to place a measure on the November ballot that would require city workers to pay far more of their salaries toward pensions. Currently, most pay 7.5 percent of their paychecks, but some highly paid employees would pay double that in bad economic years under Adachi's plan. _SFGate
San Francisco is a beautiful city, but it has been going downhill rapidly under a steady barrage of corrupt leftist city governments, in thrall to government employee unions.

But the same rapid decay is happening across the state of California, for largely the same reason. The same process of doom is ongoing in Illinois, New York, New Jersey, Michigan, and a number of other parts of the US which are committing ritualistic murder of taxpayers and private sectors in league with government unions.

Greece and much of western Europe are on the same decline plane, destined for financial ruin as a result of an excessive and pyramiding sense of entitlement and tax/regulation suppressed drive and enterprise.

Politically correct groupthink controls western media, governments, academia and popular culture. But reality has the final word.

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