The city where I live, Palo Alto, is not very big. The population is about 50,000 people. I was therefore more than a little surprised to see this on the front page of our little daily newspaper:
So let me get this straight………in a town with 50,000 people, there is approaching half a billion dollars in unfunded pension liabilities? That comes to over $8,000 for every man, woman, child, and blogger in this town. (more…)