We’re probably three or more years away from the final song of the Stockton bankruptcy.
As for inflation being a savior, that’s only true if the inflation occurs AFTER the incoming tsunami or retirees have already retired.
If it starts before, the necessary payments to CalPERS will skyrocket far faster than any revenue increases. And we all know that if inflation is 8%, the rest thing that will be removed in the next contract will be the cap on COLA.
