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When California Governor Jerry Brown came into office last year, he said he found a "wall of...

Sep. 21, 2012 4:44 AM ETCMF, PWZ, CXABy: Yigal Grayeff, SA News Editor10 Comments
When California Governor Jerry Brown came into office last year, he said he found a "wall of debt" of $28B. That wall is actually a much bigger $167B-$335B, says the State Budget Crisis Task Force, which was co-founded by Paul Volcker. The task force includes lots of off-book items in its calculations such as pledges to provide pensions to public workers and healthcare for retirees, and $40B to improve drinking water.

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