Pedestrians cross a street near the Bank of Stockton in Stockton. The city filed for bankruptcy when its debts overwhelmed recession-battered revenue. Its biggest debt was a bond it issued to pay for its pension obligations. The city has since emerged from bankruptcy.
Pedestrians cross a street near the Bank of Stockton in Stockton. The city filed for bankruptcy when its debts overwhelmed recession-battered revenue. Its biggest debt was a bond it issued to pay for its pension obligations. The city has since emerged from bankruptcy. Gosia Wozniacka Associated Press file
Pedestrians cross a street near the Bank of Stockton in Stockton. The city filed for bankruptcy when its debts overwhelmed recession-battered revenue. Its biggest debt was a bond it issued to pay for its pension obligations. The city has since emerged from bankruptcy. Gosia Wozniacka Associated Press file
Dan Walters

Dan Walters

Observations on California and its politics

Dan Walters: California’s big benefit debt load will grow

January 19, 2016 3:42 PM

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Dan Walters' column appears in dozens of California newspapers. He joined the Sacramento Union’s Capitol bureau in 1975 and in 1981 began writing the state’s only daily newspaper column devoted to California political, economic and social events. He and the column moved to The Sacramento Bee in 1984. Contact him at dwalters@sacbee.com or 916-321-1195. Twitter: @WaltersBee