Summary
Californians hear a lot about their state's current $20-some billion deficit. But that's nothing compared to what's ahead with pension problems.
A new Reason Foundation study shows that the costs of pensions for state employees are five times bigger than a decade ago, and will triple again in the decade ahead. Already the state's pension obligations are $500 billion more than it can pay, and the hole continues to deepen.See the full content of this document
Extract
Pension Shortfall Can Swamp State
Politicians talk a lot about cutting, but have been doing the opposite when it comes to pa...
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