NEWS: Jerry Brown: California Pension Liability Skyrockets by 22%
Jerry Brown’s latest budget revision has revealed that California’s unfunded pension liabilities has increased by 22%, or $51 billion. Critics say that a jump this large will put the burden of payment on future budgets, making it harder to be fiscally responsible. And in order to pay these liabilities, Jerry Brown is proposing to borrow more money and some of it from other state funds.
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