Now that criminal charges have been filed against former and current pension-fund trustees, some San Diegans feel the city has hit bottom. There is nowhere to go but up. Not so. Individuals and institutions in a downspiral only hit bottom when they realize the depth of their problems. And San Diego is still in la-la land. The magnitude of the city's pension and health-care deficits is significantly understated by the mainstream media. The dung is far deeper than citizens realize. You read that the pension deficit is $1.37 billion and the health-care deficit is $500 million. Nonsense. Those numbers are...