(Upper) Class War
Matt Welch | December 31, 2010
California, you may have heard, is broker than than Steve Garvey on alimony day. Pick a horrifying number: There’s the immediate $28 billion budget hole, the more than doubling of both debt and debt service since Arnold Schwarzenegger took office, or the estimated half-trillion shortfall in funding the Golden State’s pension obligations. Incoming Gov. Jerry Brown has taken his first look under the hood, and declared that Californians have been living in “fantasy land.”
So what are the state’s leading academic lights doing to help solve this wretched state of affairs? Threatening to sue the University of California Board of Regents “unless the regents lift a $245,000 cap on how much salary can be considered when calculating pensions.”
Academia, doing it’s part in to drive CA just a little faster toward the fiscal cliff.