California’s slow-motion pension disaster

Sacramento city officials, led by Mayor Darrell Steinberg, have been discussing how best to spend proceeds of an additional sales tax that the city’s voters passed last year.
Measure U continued a half-cent sales tax that was due to expire and added another half-cent that, city officials said optimistically, would generate nearly $50 million a year.
Steinberg, the measure’s chief advocate, described it as a “game-changer.” In pitching for the tax hike, he said he wanted t