Here is the link to the article he makes reference to.
The pension crisis at CalPERS is getting worse by the day. The State looks to be totally bankrupt by 2021-2022. CalPERS has just decided to increase the contribution of local governments and cities to their fund. The cities say they are approaching bankruptcy because of rising subsidies, but CalPERS itself is approaching insolvency. The problem is that there really is no honest reform in sight. The choice is clear – CUT pension benefits of government employees or RAISE TAXES! CalPERS simply needs a bailout and very soon. It looks like they are hunting for ways to tax whatever they can for it only now about state employees getting their piece of your future income. This is a trend that will bring down Western society as a whole – the Sovereign Debt Crisis of untold proportions.GET OUT!! GET OUT NOW!!
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