By Truong Bui, includes "Truth in Accounting has just released its latest report on the financial state of California. According to this report, the Golden State's reported unfunded pension liability increased from $11 billion in 2014 to $74.5 billion in 2015 due to a new accounting rule. The state is still hiding $4.4 billion of pension debt, which adds to a sum of $78.9 billion."
Read the full article on: Reason Foundation