Perspective
May 19, 2016
California faces fiscal ruin from unsustainable government pension programs
Meaningful pension reform most likely will require an amendment to the California Constitution. By Chuck Reed
Despite its growing economy and higher tax revenue, California still faces fiscal ruin from unsustainable government pension programs.
Even in these good times, the state, local governments, public schools and our universities are raising taxes, boosting tuition and cutting services to pay rising employee retirement costs. This "crowding-out" of services is most acute at the local level, but state government is suffering as wel...
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