“as California’s budget picture continues to improve.”
Calif’s unfunded pension liabilities alone are several hundred billion dollars.
Last month Gov Brown pushed a state bill that would cost $400 billion dollars, free health care for everyone in California. He did so with no plans as to how it will be paid for, and at a time when companies are fleeing the state.
“California, once the most envied state for its glamour, sparkle and prosperity, clearly needs help now in spending money it no longer has. California officials concede that the state faces a “wall of debt” of $26 billion, and when unfunded state and municipal liabilities (pensions, bonds, interfund borrowing, and so forth) are included, the debt surpasses $400 billion.”
http://www.washingtontimes.com/news/2017/jan/8/california-discovers-states-rights/