Arnold Schwarzenegger: Public Pensions and Our Fiscal Future - WSJ.com:
"...Reforming government employee compensation and benefits won't close this year's deficit. It will, however, protect the next generation of Californians from overwhelming burdens. The same is true with respect to the other reform I'm demanding—the establishment of a rainy-day fund so that legislators can't spend temporary revenue windfalls.
All of these reforms must be in place before I will sign a budget.
I am under no illusion about the difficulty of my task. Government-employee unions are the most powerful political forces in our state and largely control Democratic legislators. But for the future of our state, no task is more important..."
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