OPINION: Taxpayers can see budget burden only rising

The Governor’s recently released proposed budget reveals funding increases for the state pension system, reports the Orange County Register.  Unfunded liabilities in the system have risen to $160 billion largely as a result of mismanagement, failure to accurately project returns and poor investment decisions.  While government employee unions are happy with the additional funding, the accumulating debt is one factor behind special interest efforts to increase taxes.

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