With conservative estimates of unfunded public sector pension and healthcare liabilities topping a quarter of a billion dollars, and growing at a rate of $17 billion annually, Orange County Supervisor (and one of the very few to predict the O/C bankruptcy back in 1994) discusses the extreme danger to cities, counties and the state of California – and the real possibility of a California default:
http://www.calwatchdog.com/2010/02/23/new-pensions-push-state-to-insolvency/
Katy Grimes shines a light on the chasm between public and private sector vacation and sick day payouts which are coming to light as state employees head for the exits.
http://www.calwatchdog.com/2010/03/02/public-versus-private-different-sets-of-rules/
For an excellent website covering these public pension issues, bookmark the following site:
http://www.pensiontsunami.com/
Related Twitter:
http://twitter.com/pensiontsunami
Supervisor Moorlach’s webpage:
