U.S.: Debt-ridden California owes a lot of money in pensions
- $500
billion amount the state owes in
pensions, according to a Stanford
University study - 2,000%
increase the amount California’s
pension burden increased between 1999 and 2009 source
- » Why is this bad for California? David Crane of the L.A. Times notes that this pension burden is what’s really holding the state back. Because they have this huge albatross on their back, they’re forced to cut other, arguably more important things, like education.