Blaise Pascal, Penseé 347: “Man is but a reed, the most feeble thing in nature; but he is a thinking reed. The entire universe need not arm itself to crush him. A vapor, a drop of water suffices to kill him. But, if the universe were to crush him, man would still be more noble than that which killed him, because he knows that he dies and the advantage which the universe has over him; the universe knows nothing of this. All our dignity consists, then, in thought. By it we must elevate ourselves, and not by space and time which we cannot fill. Let us endeavor, then, to think well; this is the principle of morality.”

Friday, November 16, 2012

California Budget Surplus by 2014?

Given that I would like to retire in the foreseeable future, anything that makes the economic future of California brighter--especially PERS--is welcome news.

All over the internet and radio this week are budget projections that California will not run a deficit by 2014. Let's hope.

Here is an analysis of how fragile that prediction is:

Fragility of Projected Budget Surplus
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