Friday, June 14, 2013

California on the Brink: Pension Crisis About to Get Worse

Reality is hitting CA right between the eyes.
Government retiree costs to date have been improperly underreported nationwide to taxpayers, says Moody’s. New government rules in effect at the end of this month from the Governmental Accounting Standards Board seek to fix this problem, which could show California is worse off than expected. A growing number of Senators also now warn these pension costs could result in a taxpayer bailout of the states.
If they mean FEDERAL Government bailouts, FORGET IT!

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