This Bloomberg report explains how risky investments in high-end real estate has lead to massive losses in Calpers' pension fund. Though Calpers officials claim to be changing investment firms and repositioning these investments, it may be too late as net losses are in the billions.

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In this piece in the Sacramento Bee Dan Walters explains that California well over $500 billion in estimated debt, including general debt as well as unfunded liabilities. Though state Treasurer Bill Lockyer has warned legislators of this welling debt, they have gone forward with the $11.1 billion water bill, which serves to add to this debt.

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This article on Sign On San Diego News describes how incompetent legislators passed a bill in 2002 to increase in unemployment benefits by 96%, without a plan to cover the costs of the bill. Though these legislators reassured the public that these increases wouldn't cause a problem for the unemployment fund, 8 years later the fund $7.4 billion in debt.

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This column in the OC Register, explains the numerous "tricks" that government employees have used to permanently increase their retirement pensions and health benefits. These "tricks" have increased pension spending by millions, contributing to state debt and adding an extra burden on taxpayers.

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CaliforniaCityNews.org describes how 2010 will bring one of the most politically contested years in recent history. With political parties polarized and poised for unilateral take-over, interest groups who are more uncompromising than ever and voters who are completely fed up with taxes and government deceit... the stage is set for heated conflict.

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