'The Local Government Pension Squeeze'

We're going to be hearing more and more about stuff like this, particularly as the Obama Depression deepens.

From Stephen Malanga, at Wall Street Journal (via RealClearPolitics).

RELATED: The process is playing out in one of the cities right next door to where I live. See NBC News Los Angeles, "Costa Mesa Mayor Pro Tem Talks About Unprecedented City Cuts." And at Los Angeles Times, "Costa Mesa's police chief abruptly quits over council's plan to slash workforce," and O.C. Weekly, "Costa Mesa Police Chief Resigns With a Letter, Calling City Council 'Incompetent' and the City's Fiscal Crisis a Lie."

BONUS: "Republicans promote Costa Mesa as a pension-slashing leader."