Pension Obligations Draining Educational Resources

An outstanding article in Bloomberg about the deficit's impact on educational resources--particularly the University of California system.

Front and center among the drivers of the current (and projected) deficit are pension obligations.

A perverse situation where the foundation that will actually fund those pension obligations (bright workers and entrepreneurs educated in the state) is being hollowed-out by unreasonable levels of spending and unrealistic pension promises.

Source: Bloomberg

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