Opinion: Controller John Chiang drops bombshell on California public pensions

Opinion: Controller John Chiang drops bombshell on California public pensions.

Chiang added public pension systems to his already large fiscal database. One chart reveals that their “unfunded liabilities” – the gap between assets and liabilities for current and future pensions – exploded from $6.3 billion in 2003 to $198.2 billion in 2013.

But somehow California can afford Jerry Brown’s boondoggle Choo-Choo to Nowhere.

Author: CO2Insanity

Tired of the CO2 BS and all the other BS in the US and the world.

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