What is conspicuously absent is any explanation of why such draconian cuts are necessary. Could it possibly have anything to do with the fact that the average state worker retiring in 1999 with full benefits collects $67,000 per year?
California's government is characterized by oppressive, job-killing nanny state regulation and outrageous indulgence of its state employees. So much has been spent where it doesn't belong that there are no more funds left for matters -- like universities -- that serve all Californians and are within the proper scope of government.
Until there is real, meaningful pension reform in California, it will continue to go the way of Greece. And there will continue to be great suffering there . . . and two classes of people: The taxed, serving class -- and the entitled, governing class.