CARPE DIEM: General Motors and the State of California
'The problem is stark:
Over the last decade in California, spending on state employees' compensation rose nearly three times faster than state revenues.
This has squeezed resources for programs, such as higher education and job training, that benefit private-sector workers.
This year, for the first time ever, our state was forced to spend more on retirement costs ($6.5 billion) than on higher education.'"
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