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San Mateo County, CA May 3, 2011 Election
Smart Voter Political Philosophy for Demetrios Nikas

Candidate for
San Mateo County, Board Member; County of San Mateo; Supervisorial District 1

This information is provided by the candidate

Why am I running? Am I serious?

I first took the Citizens Academy in 1999 that provided a learning experience about county services for those who live or work in San Mateo County." It was also the year that the board of supervisors passed unanimously a record $903 million budget a 12 percent increase over the previous year. The then County Manager John Maltbie warned supervisors not to be overly carefree with a flush account, the result of a booming economy and high property taxes." (Wednesday, June 30 1999 San Francisco Chronicle)

Fast-Forward to 2011, even after a 158% increase in taxes, and a budget twice the amount than in 1999, the county is now facing financial problems. After the burst of the real estate bubble the county is faced with a one billion dollar shortfall in the county pension. County government decided to spread the cost over 5 years to prevent going bankrupt and also increased employer contributions to 34% of payroll through 2012 with future increase to 41 % in years to follow. Even with these adjustment there is an unrealistic calculation of future returns at 7.75%, when the reality over the past 5 years returns stand at 1.14 %. This is an unsustainable scenario the debt incurred will be cross-generational.

This is why I have come out of retirement and am addressing some very serious issues, I am not a career politician and I want to make a difference and ensure the government is accountable to the taxpayers.

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Created from information supplied by the candidate: March 29, 2011 07:59
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