Re: California's looming budget crisis
Author: Nobody
Date: 03-22-2017 - 08:02
Some interesting stats in that article to a non-resident like me.
I did not know that CA has 1/3 of all US wellfare recipients!
Also interesting that 80% of the budget is for welfare, education, pensions and interest. Those public pensions are a real time bomb. It says they are underfunded by $1 trillion! Then there is another ticking time bomb - things like the Oroville Dam spillway and deferred maintenance everwhere.
Something's gotta give. When it fails it's going to be spectacular too.