Re: End Game?
- Thanks for the summary, Christina. I deeply admire and appreciate all of you volunteers that stomach all those meetings on behalf of the public interest.
So the budget isn't UTR's problem, eh? Fish probably don't spend much time thinking about droughts, either. Who needs golden eggs when you can have roast goose?
I believe estimates of pension obligations assume an 8% per year return overall, a rosy rate to be sure. We, all of us, allowed public finance to engage in chicanery, putting huge pressure on pension funds for unreal returns. Pension funds in turn put pressure on Wall Street, which created interesting financial products that generated 40% of all US profits in 2007. We all know how that turned out.
If WCCUSD finances look bad, wait till Medicare goes broke in a few years. Imagine it wasn't an iceberg, but a charted shoal that sunk the Titanic, a la Exxon Valdez. We're facing the public finance version of this scenario. Fortunately, it's not to late to start our turn.
I implore anyone with influence in UTR, ask them to embrace our financial reality in their bargaining position. Could UTR leadership possibly want a State takeover as proof they went to the mat for the membership? Just this summer, the Gov and Legislature added 3 billion to the deficit overnight for no reason other than stubbornness. We can't trust our leaders to act in the larger interest.
I would consider not voting for any sitting board member if a strike occurs from district inflexibility. Can those of you with union votes make the same consideration?