OPINION: Dow 28,000,000: The Unbelievable Expectations of California's Pension System

Wall Street Journal opinion piece by David Crane, Special Advisor to Governor Schwarzenegger, on the undisclosed pension costs of SB 400, passed in 1999. Based on unrealistic projections of economic performance, the bill once touted to "not cost taxpayers a dime" has already cost them $15 billion and potentially billions more in the years to come.

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