Cal pension funds a half-trillion dollars short, study says

Cal pension funds a half-trillion dollars short, study says
"'This study reinforces the immediate need to address our staggering pension debt,' Schwarzenegger said in a statement.

'According to the study, California taxpayers are on the hook for over a half trillion dollars.
That's nearly six times the size of our entire state budget.

The consequences are clear: increasingly large portions of state funding for programs Californians hold dear such as schools, parks and health care will be diverted to pay for this debt.

That is bad enough, but without reform, pension debt will only grow.'

Schwarzenegger has proposed broad pension reforms, including shifting new employees to a new, lower-cost system and raising state employees' pension contributions, but with opposition from public worker unions, his plan has gone nowhere."

It is long passed the time that we understand who the real enemy is: public sector unions.

Will we simply continue to bend over and tighten our financial belts as they continue to buy bigger belts...on our money?

Get involved or the ultimate price we all will pay will destroy our schools....and our personal savings