Tuesday, December 1, 2009

California Spending

Imagine a place where everyone knows they have a spending problem, no one cares, and no one minds passing the financial consequences to their children. Welcome to California.

Fun facts: California paid out $2.1 billion in bonuses, overtime, and other extras in 2007. (See SF Chronicle, Erin McCormick, A1, June 30, 2008.)

A Superior Court Judge makes $178,789 a year; an Appellate Court Justice makes $204,599 a year; and a state Supreme Court Justice makes $218,237 a year. All state judges are eligible for generous pensions, dental benefits, health benefits, basic life and AD&D insurance, supplemental life insurance, vision service plans, long term care insurance, a voluntary tax savings program (FlexElect), and a savings plus program (a Thrift Plan, i.e., a 401K, and a Deferred Compensation Plan (IRC 457)).

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