California In a Nutshell, Part II

California is teetering on the edge of bankruptcy. Over-spending, prompting ever-increasing taxes, is the reason, and there's no better illustration than this:

In one of Orange County’s most desirable beach destinations, Newport Beach, lifeguards are compensated all too well; especially compared with the county annual median household income of $71,735.

It might be time for a career change.

According to a city report on lifeguard pay for the calendar year 2010, of the 14 full-time lifeguards, 13 collected more than $120,000 in total compensation; one lifeguard collected $98,160.65. More than half the lifeguards collected more than $150,000 for 2010 with the two highest-paid collecting $211,451 and $203,481 in total compensation respectively. Even excluding benefits like health care and pension, more than half the lifeguards receive a total salary, including overtime pay, exceeding $100,000. And they also receive an annual allowance of $400 for "Sun Protection." Many work four days a week, 10 hours a day.

This being California, some are protesting proposed lifeguard layoffs.

When I was 16, I was a lifeguard for the summer. Who knew I shouldn't have bothered with student loans for law school?

(via Greg Mankiw)