Public Employee “Plunder” and California’s Perfect Storm

Published on
February 14th, 2020
Duration
47 minutes


Public Employee “Plunder” and California’s Perfect Storm

The Interview ·
Featuring Steven Greenhut and Michael Green

Published on: February 14th, 2020 • Duration: 47 minutes

Steve Greenhut, Western region director at R Street Institute and author of "Plunder: How Public Employee Unions are Raiding Treasuries, Controlling Our Lives and Bankrupting the Nation," joins Mike Green of Logica Capital Advisers to discuss his coverage of the political paralysis that surrounds the issue of pensions in California. He guides Mike on a deep-dive into the gargantuan public employee compensation complex and how that complex bleeds into every other aspect of California government spending. He argues that public employees have forced state and local governments into a corner wherein they cannot maintain their obligations because of the massive burden of pension disbursements and employee compensation. Due to a lack of transparency, pension assumptions based on guesswork, and legal precedent overturning democratic decisions, Greenhut says that the perfect storm that will surely "surprise" Californian politicians has been plain to see for longer than a decade. Filmed on February 6, 2020 in Sacramento, California.

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