Regarding the weekend article, “$76 Billion Windfall-California is awash in tax revenue and budget reflects it,” normal discussions about budgets would include discussions about a rainy day reserve and how to pay down debt, not just profligate spending.
California’s unfunded public pension liabilities are estimated to be in the hundreds of billions of dollars and annual payments to CalPERS and CalSTRs are bankrupting local municipalities and school districts. Poor investment returns and overly optimistic investment returns are exacerbating the problem.
How about some more balanced reporting about this issue. It should be the elephant in the room. Time to get real. Newsom needs to start watching Suze Orman.