Here's the money quote about Greece and its problems:
Economists regard the bloated civil service with its jobs for life and generous pensions as a cancer consuming the country’s resources. The older generation, the experts grimly concur, turned the state into a giant cash machine to be plundered at will.
In California, the counties and cities have lived far beyond their means by expanding public employment much faster than the general population growth, and demanding more and better government services. Looming over all the public sector employment - which, the public seems to have forgotten is paid for by taxes out of someone's pockets - is the spector of generous pension plans that begin with the illogic of very early retirements.
Of course, much of this is not recognized by the voters, because many of them are net recipients of tax monies rather than payers. Add to these beneficiaries of government generosity the members of the fastest growing voting block in California, the public employees themselves, and you have a perfect system for increasing taxes and spending.
In Europe they have been working at this longer than we have, so are much further down the path to economic ruin. We could learn from their mistakes, but instead we emulate them because we don't recogize that their security, which we envy, is only illusory.
Look to Greece for an example of what's soon to come for Spain, Portugal, Italy, Ireland, Iceland - and they're only tips of the iceberg.
Bureaucrats will raise their fists at the barricades in a general strike and protests on Wednesday to protect their considerable perks from the IMF.
They and other public sector workers are virtually unsackable, can retire as early as 45 and get bonuses for using a computer, speaking a foreign language and arriving at work on time.
Obama denies it, but even a fool should realize that what happened in Greece happened because government employees became too strong.
California's public employment is up significantly during the past four years, even as California as a whole has its highest rate of unemployment of modern times.
California public service unions are so strong, that even though the only answer to California's ruinous budget deficits is drastic cuts to the public payroll, California politicians will not bite that bullet. The unions are too powerful.