Via Power Line:
As reforms go, the pension deal that Sacramento lawmakers reached last week is just a start to correct the mistakes that former lawmakers, including me, have made over the years.
But for all the talk about how the changes were needed to make the governor’s tax plan more palatable to voters this fall, the fact is that lawmakers bucked the unions for one reason and one reason only: They want to keep their jobs.
The unions are really bent out of shape because they weren’t allowed in the room during the negotiations, as they usually are. But why should they be in the room?
The world is changing. Years ago it was the likes of Southern Pacific and other big businesses calling the shots in Sacramento, and we were all highly critical of them.
These days it’s labor. That’s not the portrayal union leaders like to see in the media, but it’s the truth.
Real reform would be barring labor leaders from sitting on state pension boards. The boards ought to be made up of money managers who are concerned with how much cash is going in and out of the fund. There is no justification for any trustee on a pension board being more interested in spreading benefits than paying for them.
Interestingly, Brown is one of the most self-aware politicians I've ever heard. He's totally into the political game, but he knows when what he's doing is bad for the public good.
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