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The CalPers system is over $180 billion, upside down. The CalStrs system is more than $24 billion upside down. When you look at pension plans, city by city and county by county, it will be the pensions that finally meltdown government. Within 2-3 years we will see a massive number of bankruptcy filings by government agencies.
The current cash deficit, $16.5 billion, is nothing compared to the disaster to payoff the mandated pensions.
Find a fallout shelter--the bomb is about to explode.
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The current cash deficit, $16.5 billion, is nothing compared to the disaster to payoff the mandated pensions.
Find a fallout shelter--the bomb is about to explode.
More...