Dan Waters is so gentle to Dem Guvs

Walters: The pinch of California pensions
Ron Seeling, the California Public Employees Retirement System’s chief actuary, believed he was speaking to a closed-door seminar in 2009 when he warned that public employee pension costs were becoming “unsustainable.”
However, Ed Mendel, a veteran reporter who writes a blog on pensions, was there, and later published Seeling’s dire warning.
“I don’t want to sugarcoat anything,” Seeling said. “We are facing decades without any significant turnarounds in assets, decades of — what I, in my personal words, nobody else’s — unsustainable pension costs of between 25 percent of pay for a miscellaneous plan and 40 to 50 percent of pay for a safety plan (police and firefighters) … unsustainable pension costs. We’ve got to find some other solutions.”
It was eerily prescient of what was to come within a few years.

He mostly went through the list, but let me summarize:

• Jerry Brown signed the Dill's Act
• Gray Davis used the Dill's Act to sell the farm to  unions
• Gray Davis screwed up energy deregulation, Gray Davis got booted
• The Gubinator did not help

California is bankrupt, its businesses are leaving the state, many to Texas.