[zeugma]

currently in California the constitution requires the pensions be paid. This story indicates to me the government thinks there’s an out. Stay turned

I find it to be interesting that people can rationalize one generation voting to enslave the next.

[morphing libertarian]

There is fine line between explanation and rationalization.

There was a time before Gray Davis changed the retirement formula and at the onset when the state contributed and the employee and that paid for itself. Unlike social security the money could not be put into the general fund. So it was solvent.

The last three governors did nothing and after Davis gave the unions the gift Arnold and Jerry let it go. And the fund managers pumped up the revenue estimates beyond all reason.