CNBC: Will Bankrupt California City Escape Pensions?!?

A great segment from CNBC on the ongoing cautionary example that is California:

Highlights:

•  Public Pensions are untouchable under California law.

• CALPERS told Stockton there was no emergency.

• Stockton is already $1 Billion in the hole to CALPERS.

• Los Angeles' pension and health care costs are up 150% in the past decade and will consume 25% of the city budget by 2017.

• Since the bottom of the crisis, tax collection in California is actually 11 billion higher AND education is down; the difference is Public Pensions and Health Care.

 (Sidenote: CALPERS is also in bed deep with Agenda 21.)

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In other California related cautionary tales, this piece from Victor Davis Hanson is GREAT.

Update: Looks like Chuck DeVore has more.

Update II: Breitbart has more.


Update III:  Eek!!!