California Pension Costs May Double Overnight
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  • ljgude

    I know enough about economics to be concerned about both state and national financial overextension. I think we are in uncharted deficit spending territory. I call it cocaine Keynesianism because the feds are freebasing bonds and the states have made impossible promises. The only thing I see to pay for it is shale oil and gas, but I am afraid there will be a point where the system stalls. Mayhap, by the even more structurally vulnerable EU. I’m holding my breath.

  • Those not living in CA who dismiss this report as irrelevant to you may want to rethink. Deep blue CA absolutely will call on Congress & the prez for a fed bailout. Which will be followed by IL and other Blue states. Red states are in for a shock when their taxpayers find out they’ll be paying for programs they have rejected in their states just because Blue states are too big for the Senate & Congress to ignore.

  • lukelea

    How the Supremes rule on gay marriage will be their most important ruling this go around. My guess is that they will leave it up to the people acting through their elected representatives rather than making it a constitutional right. Or maybe that’s just wishful thinking.

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