LETTER: Where Buz is right and wrong

Published: Thursday, April 4, 2013 at 04:13 PM.

The Walton County Taxpayers Association is dedicated to the proposition that government requires watching in order to curb its capricious use of the powers it confers upon itself at the expense of the rest of us. Buz knows better — California is not liberal in the classic sense. It is instead progressive, the modern euphemism for the pejoratives more accurately describing California governance, i.e., socialist and corrupt. CalPERS, for all its size, is its poster child.

Buz is right that the present state of affairs is unsustainable, but then government benefits are but a Ponzi scheme writ large. Must we locally continue to ignore reality until we are forced to repudiate unsustainable promises? Painful adjustments must be made to avoid such an immoral outcome. Loose rhetoric is no substitute.

I too subscribe to John Mauldin's newsletters. He has a great deal more to say about government Ponzi schemes than just that our pension return assumptions are too high. The WCTA, like Mr. Mauldin, wants change, and we understand that is not at odds with our mission. We believe the pension plan to be unsustainable, and the unaffordable benefits need to be reduced to a level commensurate with those afforded the rest of us.


Don Riley

Santa Rosa Beach

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