John and Ken speak to Marc Joffe of the CALIFORNIA POLICY CENTER in regard to these recent articles on the subject of California’s fiscal emergency:
One aspect Marc Joffe mentioned would be a way to overcome this “debt” is to increase California’s population… however, we see through some recent stories…
…this is not a viable option… nor will it be as long as Democrats are in charge:
In other words, Californians are doomed if remaining on this course.
Who cares about public pension liability? Well, you should – after all, it’s the reason entire cities and even states are facing bankruptcy. Joshua Rauh, professor of finance at Stanford and Senior Fellow at the Hoover Institution, paints a startling picture of just how broken the public pension system really is, and what will happen if we continue to ignore it.