Stockton and "the biggest lie in global finance"

If the California Public Employees' Retirement System, or Calpers, projects a 7.5 percent return on its investments, it can recommend cities adopt costlier pensions, possibly at no extra cost because the returns will help fund the pensions.

http://blogs.esanjoaquin.com/stockton-metro-columnist/2013/04/10/stockton-and-the-biggest-lie-in-global-finance/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+stockton-metro-columnist+%28Record+Metro+Columnist+Michael+Fitzgerald%27s+Blog%29