California is a living, breathing "Caution" sign for other states, a perfect example of what not to do.
This has to be read to be believed. Nearly 5,000 California public-employee retirees receive more than $100,000 per year in pensions.
The California Foundation for Fiscal Responsibility (CFFR) today put on
the Web a list of nearly 5,000 retired state workers who are collecting
$100,000 a year or more in pension money from the California Public
Employees Retirement System.
The state is bankrupt, and they have nothing to show for it. The infrastructure is crumbling, and they're hemorraging businesses and entrepreneurs.
(From the Corner).
