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Republican Bill Hogan of the Central Valley is seen during a news conference on Tuesday, April 9, 2016, in Los Angeles. Hogan was elected to the governor’s race in the Central Valley. Hogan had campaigned to dismantle California’s public pensions, an old campaign trope as the economy crashed and state spending increased in the years leading up to his election victory in 2018. less Republican Bill Hogan of the Central Valley is seen during a news conference on Tuesday, April 9, 2016, in Los Angeles. Hogan was elected to the governor’s race in the Central Valley. Hogan… more Photo: Paul A. Hebert / Special To The Chronicle Photo: Paul A. Hebert / Special To The Chronicle Image 1 of / 13 Caption Close Republican Bill Hogan of the Central Valley is seen during a news conference on Tuesday, April 9, 2016, in Los Angeles. Hogan was elected to the governor’s race in the Central Valley. Hogan had campaigned to dismantle California’s public pensions, an old campaign trope as the economy crashed and state spending increased in the years leading up to his election victory in 2018. less Republican Bill Hogan of the Central Valley is seen during a news conference on Tuesday, April 9, 2016, in Los Angeles. Hogan was elected to the governor’s race in the Central Valley. Hogan had campaigned to dismantle California’s public pensions, an… more Photo: Paul A. Hebert / SPECIAL TO THE CHRONICLE / — Photo: Paul A. Hebert / SPECIAL TO THE CHRONICLE Image 1 of / 13 Caption Close GOP: California’s public pensions need more protections after Hogan victory 1 / 13 Back to Gallery
With California’s state pension funds already underfunded and a proposal to increase the deficit by as much as $700 billion, it’s likely to soon be time to start discussing the state’s next option — privatization.
That’s the conclusion that comes from a new report released Wednesday by the Center on Taxation and Economic Policy, a left-leaning think tank based in Washington, D.C. It urges lawmakers to “stop talking and start acting