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Old 08-07-2012 | 09:53 AM
  #106986  
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Bucking Bar
Can't abide NAI
 
Joined: Jun 2007
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From: Douglas Aerospace post production Flight Test & Work Around Engineering bulletin dissembler
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Originally Posted by acl65pilot
What is CA's pension obligation again? 500 billion?
Nobody knows ... The half trillion makes assumptions like an 8% return on invested capital, out of date mortality charts and does not account for the local government entities. I think a few economists are making informed guesses at around 3 Trillion.

Whatever the number is barely matters. It can't be fixed. The sooner it defaults the sooner we can build a more sustainable government.

I'm with Buzz, legalize and tax. Takes care of some of Mexico's problems to boot.