If I lived anywhere in the US, this would concern me:
IN CALIFORNIA: A pension tsunami? “Essentially, CalPERS officials rolled the dice and lost, but the burden will ultimately fall on the taxpayers.”
A truly serious problem, though, is that the California taxpayers will not be the only ones bearing this cost. Within the next five years, the US taxpayers at large are going to be asked to bail out the California pension. What's worse is, they'll have to do it; and they won't have had any choice in the matter.
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