I've read the article. The changes must happen and will happen despite the outcry of thoses affected most. The same old same old isn't sustainable. Cuts already taking place to support the unsupportable are bad for all Californians. Like most democratic process it will probably take longer than desirable to effect change, but the more we suffer the more we'll see that change is inevitable. Where do you stand on this specifically, Robert?
Jim, as generations in the past relied on the "three legged stool" in retirement i.e. Social Security, Pensions and Personal Savings, this is just another example of the the slow destruction of traditional retirement. As my book "Redefining Retirement for A New Generation" points out Longevity is truly killing many of these strategies. That is why it is imperative to start the dialogue now on how we will replace the guaranteed income Social Security and Pensions are currently providing retirees.