California and the public sector pensions , once again, a major threat

I don't need to go into the details, except to say Obama fixed a whole slew of problems in DC. Now the California public pension system is back to the front.  It was California and its incompetent legislature which held back the recovery for 18 months, and have only partially been fixed. 

The pension reform only covers new workers and will have force in 2018. A flat stock market and taxpayers will still see a 10% rise in their obligations, stifling the economy, once again.So even if the reform works, we have three years in which to adapt. The big question, will it work. Although workers are required to cover half the pension costs, unions can still force those costs from the city budget.