Posted on 12/11/2023 9:20:52 AM PST by bitt
“California has a horrible Public Employee pension problem that will lead to many municipal agency bankruptcies and defaults that fall back on the State Budget.”
Good post.
It is too late to fix that—eventual game, set, match.
Many old corporations just threw in the towel on the pension issue and declared bankruptcy.
I expect CA will have to do the same—but I am not a good enough number cruncher to know exactly when that will happen.
The big burden on CA’s budget is their govt employee pension programs, millions of them getting their pensions while living large in other states.
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