The bankrupt L.A. Unified School District (LAUSD)will be spending nearly 1/3 of their budget on unfunded liability retirement benefits between pension and retiree health care. To compensate for this, the L.A. Unified School District may be able to raise the property taxes on you, L.A. county and L.A. Unified school district home owners. To further burden the taxpayer, L.A. Unified has undertaken a huge school building project. Over 100 new schools will be built at the cost of $20.1 billion. With enrollment dropping close to 7% since the start of the decade, (it's estimated over 100,000 empty seats will exist in the LAUSD by the year 2012), this boondoggle will be of massive proportion. A year ago, the LAUSD convinced voters to vote for Bond Measure Q. Get ready for another tax assault, L.A. homeowners. They buried some sort of tax provision in Measure Q which might allow the LAUSD to almost double your property taxes!
Because of this irreversible decision, made by these thieving politicians, in cahoots with the unions 10 years ago, cities and counties may be forced to go bankrupt. These retirement plans, cooked up by the crooks in Sacramento and the unions, are clearly unsustainable. Lets hope not, but unless a reversal of spending is achieved soon, this travesty may be what topples California into a wasteland.