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:

➤ California’s Total State and Local Debt Totals $1.3 Trillion
➤ Can California’s Economy Withstand $1.3 Trillion of Government Debt?

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…

★ California Won’t Fall Into The Sea — It’s Moving To Texas Instead
★ The Exodus of People Moving Away From California Is Becoming an Avalanche

…this is not a viable option… nor will it be as long as Democrats are in charge:

✦ California Regression – Eco Craziness
✦ John & Ken Discuss CalPERS Ponzi Scheme

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.