CBS News | The economy is slowly improving, but many cities in California and across the nation are struggling under a mountain of debt, much of it in pension obligations to public employees like policemen and firemen. The city council in San Jose voted yesterday to put a measure on the ballot that would slash the pensions of its union workers in June. CBS News correspondent Ben Tracy explores the issue:
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- How did CalPERS dig a $153 billion pension hole?
- Public employee unions push back with lawsuits over pension reforms
- CalPERS Nets 0.14% Return on Investments for FYE 2011-2012
- Fate of ballot measures often depends on the wording
- San Jose’s pension reform ballot measure featured on CBS Evening News
- Attorney General distorts democracy to aid unions
- California Pension Reform suspends campaign
- Clamor grows to rein in California’s public pension benefits