Wrong on all counts. Understanding of economic terms is important.
Pension Liabilities are a long term expense. They work on a multi-year/multi-decade time frame. (Think Mortgage)
Budgets are short term and work with monthly/quarterly/annual budgets, annual revenue growth. Etc. (Think utilities, rent, groceries/gas, etc.)
Having long term liabilities is not a problem as long as your payment do not exceed your budget. AKA, having a mortgage does not mean you are insolvent.
Also, CA GDP has grown for 8 of the last 10 years, Averaging 2.5-3% each year. The fact that one state is more powerful then 90% of countries (and 100% of US states)is amazing, and you are still upset and complaining?
"Lighthouses are more useful than churches."- Ben Franklin
"Religious bondage shackles and debilitates the mind and unfits it for every noble enterprise."- James Madison
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