What’s $200 Billion Among Friends

California has a budget. Unfortunately, there’s a probable deficit of around $8 billion. A State Assemblyman, Juan Arambula, wondered what the total liabilities of the state are. So he wrote the Legislative Analysts Office.

Their response: $200 Billion.

The Legislative Analysts’ response details the full gamut of unfunded liabilities: budget, infrastructure, and retirement. Pensions are truly the ticking time bomb and are likely unsustainable at their current level.

Anyway, the full response is here. It’s well worth your perusal.

Hat Tip: The Flash Report

Comments are closed.