October 26, 2021

OPEB: The Trillion-Dollar Acronym for State Bankruptcy

“California government is bankrupt. Not because of a virus—unless you call corruption, mismanagement and incompetence a virus. Unless you call financing the Chinese Communist Party with a secret billion contract. Corruption? You bet. These unfunded liabilities do not count those of CalPers or CalStrs—for which you need to add at least another $1.2 TRILLION”

OPEB: The Trillion-Dollar Acronym for State Bankruptcy