By Taxpayer Association of Oregon
The Oregon Public Employee Debt has jumped by $8 billion to a new total of $28 billion.
Oregon has experienced both historic stock returns for over a decade and historic revenue surges over a decade, but now Oregon may be facing a normal period of investment returns and revenue. That is a disaster for one of the nation’s most lavish and expensive government pension system.
Scott Winkels, a lobbyist for the League of Oregon Cities, said in The Oregonian “The only real solution we have is to put more cash in the system,”.
Courts have blocked any pension reforms as a violation of the contract (no matter how lavish, unaffordable and unsustainable it is).
This means taxes are heading our way and fast.
The politicians just got done handing out up to 26% raises and $1,2000 inflation bonuses.
7,298 of state workers earned $100,000 or more in 2021. That was a 25% increase from the prior 2020 year. That is a 25% increase in employees making $100,000 or more.
Instead of making cuts, politicians are pouring more costs into the $28 billion pension crisis.
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