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:

http://egov.ocgov.com/ocgov/Government/Elected%20Officials/Supervisor%20John%20M.W.%20Moorlach%20-%20Second%20District/Biography

Tags: California Budget; California Unfunded Pension, California Deficits, California Governor; Pension Tsunami, California Vacation Payouts, pensiontsunami.com, Public Sector Benefits, Unfunded Pensions

This entry was posted on Saturday, March 6th, 2010 at 3:02 pm and is filed under California Enterprize Zone, Finance/ Retirement, Healthcare, Tax - General, Tax - State & Federal Hiring and Equipment Credits. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.