The Budget Shell Game

Sacramento politicians say we have a balanced budget. Hold the champagne.

California's budget is $340 billion in the red. Some of that is debt. Most of it is unfunded pension and health care liabilities.

The teachers' union pension fund, by itself, is $4.5 billion underfunded every year for the next thirty years, just to pay the benefits of the teachers currently working in the system.

Yet Sacramento politicians pat themselves on the back and declare that (except for the debt and the unfunded liabilities), they have a balanced budget, maybe even a surplus.

So they're ramping up spending.

This is beyond reckless.