There was is so much bad stuff in the Bloomberg article that I don’t know where to start. For starters there is this….

California, the most populous U.S. state, will run out of money by the end of this month and needs $7 billion in funding.

Naturally, the feds are being asked to cough up.

But that is not the worst of it. There is also this….

One California lawmaker said the state should consider borrowing the money from its public employee pension system, the largest such pension fund in the U.S., with $214 billion in assets.

Senator Dean Florez, a Democrat, said the California Public Employees’ Retirement System could buy all the state’s cash flow notes, earning more in interest than the system would by investing that same amount of money in U.S. Treasury notes.