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California's Days of Wine and Roses Are Over

By Ben Boychuk, City Journal - April 6, 2012

Jerry Brown wants Californians to believe that the state, facing a current budget deficit of $9 billion, has a revenue problem. In fact, what the 30 million residents of the Golden State have is an entitlement problem. From health care to state and local public-employee retirement benefits, Californians face as much as $500 billion in unfunded liabilities for pensions alone. The state’s unfunded health-care liabilities top $62 billion. Brown’s new budget actually proposes a 7 percent increase in spending, though it offers to cut some services.

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