Los Angeles’ Pension Crisis Is Sinking The City

[Originally published by Forbes]


Los Angeles, CA–There are certain respects in which Los Angeles, for all its innate advantages, feels like an unsustainable city. It has the nation’s largest homeless population, the worst traffic, and numerous other service failures. Lack of money isn’t the problem, since the city has both high taxes and a wealthy population. It is instead because large sums go to employee pension benefits, sucking money from core services, and serving as a case study in how misappropriated resources can sink a city…[read the rest at Forbes]