California is at ground zero of a future financial implosion.
The number of people in the state collecting massive taxpayer funded pensions is simply unsustainable.
The Orange County Register reports:
California’s 100k club grows as tax hikes mount
Almost 80,000 retired public employees in California are drawing pensions in excess of $100,000 per year, according to an analysis of 2018 pension payout data by Transparent California. The $100,000 club members collected 20 percent of the $51.7 billion in total public pension payments made last year in California.
Both the number of six-figure pensions and the total payout were new record highs. If public pensions were a competitive sport, California’s trophies would weigh enough to sink the state…
Read the full story from American Lookout
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