SAN FRANCISCO - California dealt with its short-term budget crisis last week, but its long-term fiscal imbalance continues to grow, according to a new report from Controller John Chiang.

The most populous U.S. state's unfunded retiree health and dental care liability rose $340 million to $48.2 billion as of June 30, 2008, from $47.9 billion a year earlier, according to an actuarial study by Gabriel Roeder Smith & Co. of Chicago.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.