Wednesday, April 28, 2010

Pension Promises Bankrupting California?

Interesting article (April 12, 2010, Sac Bee, Phillip Reese) on public pensions and their effect on California cities and counties:

"The old joke is that General Motors is just a health insurance company that makes cars on the side," San Luis Obispo County Supervisor Adam Hill said during a pension presentation at a recent board meeting. "My concern is that the county government is becoming a pension provider that provides government services on the side."

The legacy of Gray Davis: blackouts and unsustainable pension promises?

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