How Scott Peters Helped Create Government Millionaires With His Pension Spiking Scheme
San Diego – The DeMaio for Congress campaign today released a new ad titled “Who Wants To Be A Millionaire: Government Edition” which spoofs the popular game show by highlighting how Congressman Scott Peters helped create millionaires out of government employees by voting to spike their pensions.
Yes, Scott Peters helped make millionaires out of government employees.
“Scott Peters voted to spike government employee pensions even though he knew San Diegans could not afford it,” said Dave McCulloch, spokesperson for the DeMaio campaign. “Because of Scott Peters’ pension scheme, many government employees now get pensions higher than $100,000 a year and some even became millionaires,” McCulloch added.
According to a 2010 study released by Californians for Fiscal Responsibility, several retired San Diego city government employees will receive up to $6 million in retirement checks from the city retirement fund. DeMaio’s ad features those examples, including a city librarian – who, in retirement, earns more than $234,000 a year in government pension checks.
In 2011, the Union-Tribune even documented a massive 71% boost in the number of city employees receiving $100,000 or more annually in government pensions. The pension spiking was approved by Scott Peters while he was on the San Diego City Council and almost bankrupted San Diego. To pay for his pension scheme, Scott Peters slashed San Diego neighborhood services – including the elimination of after-school and childcare programs for the city’s most needy and slashing library hours by as much as 40% in some of our most needy neighborhoods.
The ad, available on the campaign’s YouTube account, will begin its public rotation this week with a significant online video buy and associated social media platforms. Tomorrow: Peters Pension Scheme Week continues…with another startling revelation on the crisis Scott Peters caused by spiking government pensions.