What happens when you run up a credit card but only make the minimum payment? It never works out very well. But that’s how Fullerton is handling $30,000,000 in retiree health care commitments.
Jack Dean passed along this unfortunate piece from the OC Register which exposes over $1 billion in unfunded retiree health commitments for Orange County and its cities. Fullerton’s spending problem is summarized here:
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