The Bill Has Come Due

Expect to hear a lot more pronouncements from state and local government officials about the need for tax increases, cuts to public services, or both.
 
CalPERS, the huge pension fund that serves most California government employees, has announced it is raising its rates, a move that will cost employers — taxpayers that is — up to 50% more. For some local governments already on shaky financial footing, this may be the nudge that sends them down the bankruptcy road already traveled by Vallejo, Stockton and San Bernardino.
Read more…
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