FOR IMMEDIATE RELEASE
Contact: Patrick Howell, 858-617-0000
Friday, November 2, 2012
Scott Peters is infamously known as the architect of the “Enron by the Sea” scandal that nearly bankrupted San Diego when he voted to increase the city’s pension benefits while underfunding the pension system in 2002.
That is why it was so outrageous to learn that Peters voted to increase his salary by more than 15 percent to $75,386 during the same year he was underfunding the city’s pension obligations (San Diego City Council meeting minutes, 4/9/02).
This generous salary increase came at a time when City Manager Michael Uberuaga ordered a 2 percent cutback in city spending to cope with a potential budget gap of $15.6 million.(The San Diego Union-Tribune, 4/10/02).
“Scott Peters voted to underfund our city’s pension obligation and thought that it was appropriate to increase his salary while cutting the social safety net for the rest of us,” said Congressman Bilbray. “As a result of his negligence, Peters left our city with a $2.1 billion underfunded pension liability; left millions of dollars in taxpayer-paid legal fees and left San Diegans with the unwelcomed nickname ‘Enron by the Sea’. That is just one of the many reasons San Diegans simply can’t afford to send Scott Peters to congress.”