Oregon is already in the midst of a major pension crisis, with the state facing over $25 billion in unfunded liabilities. But Oregon’s embattled Democrat Governor Kate Brown, who has been criticized for allowing a “crisis in competence” in state government, is refusing to tackle the problem head on.
The Bulletin editorial board is now warning that Brown is in “denial” over the pension crisis that threatens to hurt Oregon schools that are already among the worst in the nation.
Here's more from The Bulletin:
PERS problems were caused by decades of dreamy assumptions about returns on investments and inflated promises of benefits. Democratic legislators are locked in an embrace with public employee unions, which produces enough delay and denial to stop any serious consideration of meaningful reforms. Instead, Gov. Kate Brown has backed a cartoonish exercise in selling pieces of state government to pay down the liability. Her big goal of the next legislative session is to raise hundreds of millions in new taxes for green energy. Brown is a leader in Oregon’s PERS cover-up.”