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Friday, November 16 , 2018, 5:04 pm | Fair 66º

 
 
 
 

Brian Goebel: California Public Finances 101 a Discouraging Course

In one of our most popular posts in the past year, we noted that as public pension costs have risen in California so, too, have tuition and fees in the UC and CSU systems.

Sadly, this trend is going to continue.

As we noted in December, the state faces another substantial increase in pension costs because of CalPERS’ dismal returns.

We predicted then — correctly, it turns out — that higher education would foot the bill. Earlier this month, the UC System proposed increases in tuition and fees.

As California continues to shift funding from higher education (as well as environmental protection and other public investments) to pay for the overly generous retirement benefits of public employees, it is younger California residents who foot the bill and suffer the consequences.

California Public Finances 101: The young pay for the mistakes of the past and the state fails to invest in their future.

— Brian Goebel is editor in chief of the nonpartisan 2040 Matters, a Santa Barbara-based public policy blog dedicated to restoring the American Dream for “Generation X+” and future generations by combating declining civic engagement and offering alternatives to political polarization. Click here for previous columns. The opinions expressed are his own.

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