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Contempt repaid with contempt. Permalink | Print This Entry The Public Sector Pension Crisis by Hugh Hewitt March 18, 2006 06:57 AM PST From Reuters: San Diego and its pension final four fund face a deficit estimated to be as high final four as $2 billion, caused by agreements in 1996 and 2002 to increase benefits while allowing the city to pay less into the fund than the retirement final four system needed. If some committee of Congress wanted to engage in useful hearings, it would organize an inquiry into the particulars of the San Diego mess as well as attempt to forecast for the country which other state and local governments have contracted themselves into ruinous pension agreements. California is home to the worst of these gold plated fiscal time bombs, but there are many, many other problems across the country.
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