California Bailout or 'Fair Share'?

By Varney and Co

We plant our flag in California every day. Today Governor Schwarzenegger’s press secretary Aaron McLear joined the company to talk about the sky-high salaries and benefits in Bell, California.

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“Bell is just a drop in the bucket… We really need to take on the pensions at the state level if we want to save some real money,” said McLear.

McLear added that pension reform is gaining momentum in the Golden State, and that Governor Schwarzenegger has even been successful in getting some pension reform from about a half-dozen unions.

“The amount we’re paying in pensions right now is crushing every other part of state government,” said McLear.

Charles Payne asked McLear if crazy salaries and pension waste are bringing California closer to a federal bailout.

McLear responded, “No, we’re not going to ask for a bailout. We never have and we never will. We’re asking for our fair share from the federal government.”

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“Fair share sounds like a euphemism for bailout, but we’re going to leave it there,” answered Charles.