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The label on the 2nd one is off. WSJ states that it is in Billions and then has 5000 on the left hand scale. I'm pretty sure California doesn't have $5 Trilli
by whatusername 16y ago
The label on the 2nd one is off. WSJ states that it is in Billions and then has 5000 on the left hand scale. I'm pretty sure California doesn't have $5 Trillion in Pension costs.
Pretty sloppy fact checking.
- jhickner 16y agoThat's the total projected pension cost for each year from now until the last currently retired employee dies, which may be 30+ years from now. So it's not debt, per se, since that cost is amortized over the same 30+ years. It's a projection of the total cost over that time period.