Facing Downgrade to Junk, California Tries Pension Reform

Chriss W. Street, Breitbart

10/29/2011

Jerry Brown, California’s quirky Governor, has made a credible first step on the road to reforming the State’s insolvent public pension plans. The state is the global leader for financially irresponsible government by racking-up $350 billion in unfunded pension liabilities. But with the threat of California’s credit rating being cut to the same “junk” level that is destroying Greece; the Governor has offered a 12 step recovery program to begin the long journey back to solvency.

And now… the rest of the story. …..