California’s Debt Folly –Unnecessary spending on retiree health care is crushing the Golden State.

California has asked Washington for $14 billion in Covid-related support, in addition to the $8 billion already provided by the CARES Act. But because the state, with an annual General Fund of $150 billion, incurs more than $24 billion of annual expenses for pensions and other post-employment benefits (OPEB) — including post-employment subsidies for health […]