In a truly epic feat of irresponsibility and cynicism, the California legislature, after months of battles, passed a budget that solves none of the underlying problems. The projected deficit for next year is already estimated to be at least $19 billion. They labored mightily and noisily for months and accomplished nothing but evading responsibility and letting the next guy clean up the mess.
It’s really quite depressing. The public pension funding shortfall continues virtually unabated. The big unions cheerfully tossed their new hires under the bus and sadly agreed that new employees will need to sacrifice so that current hires can continue on their gravy train. Worse, this cynical, self-serving maneuver does nothing to solve the current pension funding problem.