This article, published by the Orange County Register, explains how CalPERS' top actuary has warned that a large group of state employee pensions are completely unsustainable and are driving California's debt. The California Foundation for Fiscal Responsibility recently published a database that shows more than 5,100 Retirees that receive more than $100,000. Clearly something must be done to change the pension system.

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As the new budget goes into effect, California's future financial health remains in question. Thus, as a next step, the governor has called for large-scale reform of state pensions that cost the state several billions of dollars. As this article on WKTB.com discusses, this step is controversial but may be necessary to secure the state's financial future.

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The LA Times reports that Governor Schwarzenegger has signed the budget plan after making several more cuts to state spending. These cuts were made in attempt to make up the $1.1 billion that were left unaccounted for in the proposed budget deal. Officials remain dubious that this will truly bring California out of debt.

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As this article in the Sacramento Bee explains, UCLA Chancellor Charles Young is filing suit against Proposition 13. However, this suit is not the first of its kind. Throughout the proposition’s history there have always been special interest groups who have tried to bring it down. However, Proposition 13 has maintained a high level of popularity in the polls and all of the lawsuits like Chancellor Young's have failed.

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This article in the Sacramento Bee describes the "grueling," all-night process through which legislators finally established a budget plan. It explains how issues like oil drilling off of the Santa Barbara coast and cuts to student aid were heatedly debated and why they eventually were passed.

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