Lars Larson: Oregon’s pension power plans aren’t very bright

By Lars Larson
NW and national radio host,

Oregon’s state lawmakers offer daily proof that you “can’t fix stupid”.

The state has invested tens of billions to earn the money to pay ridiculous public employee pensions over decades ahead.

That system is already short by billions.

Now, Democrats plan to short it some more.

They want to dump about a billion dollars now invested in coal.

State investment managers, whose track record ain’t really much to write home about already, put that money in coal because it earns a high return.

State law requires investments be put wherever they make the most money.

Democrats like Kahn Pham have introduced the “Clean Oregon Assets Legislation Act”. COAL. Cute, huh?

If the state trades high earning stocks for something environmentally friendly, they make a lot less.

And guess who’s on the hook to make up that shortfall? One hint, it’s not PERS recipients! It’s the taxpayers.

The system already falls short 20 billion.

That’s more money than the entire state budget for a year.

So, while Democrats want a “green energy” bragging point, just remember it’s almost certain to cost taxpayers a pile of green.

Hang onto your wallets, folks.

The legislature’s in session and Democrats are running the show.