Currently, Califronia spends the equivalent of $3,000 per resident on its public pensions. And that number may rise.

From Sacramento’s CBS 13:

A new report says the burden on California families to support the state workers’ pension system could triple within a few years and drag the state down further into the financial hole.

The Milken Institute, an independent think tank, said California’s pension obligations to retired state workers already cost each Californian $3,000 every year. By 2014, that cost could go up to $10,000 a year, the group’s report said.

Read the full article here.