A must-read for anyone interested in the reasons behind California's budget mess:
http://www.businessinsider.com/california-pension-dow-25000-2010-6
An excerpt: "[E]veryone related to California's pensions must have known for quite some time that the underlying assumptions were way too high. Yet, absurdly, when someone tried to correct these obviously broken assumptions, he was kicked out [by Democrats]."
My kingdom for a fiscally-sane Democrat or a socially-sane Republican. Sigh.
"And if an epitaph be my story, I'd have a short one ready for my own: I had a lover's quarrel with the world." -- Robert Frost
Showing posts with label pension promises based on stock market forecasts. Show all posts
Showing posts with label pension promises based on stock market forecasts. Show all posts
Friday, September 17, 2010
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