As pension bombs go, this one is not very big. But the portents contained in this news that Costa Mesa, CA is going to lay off half its workers because of pension costs are dire indeed.Washington Post: Nearly half the city workers in Costa Mesa received layoff notices last week. Street sweepers. Firefighters. Mechanics. Payroll clerks. Animal control workers. In all, about 210 of the city's 472 employees, many of whom have worked there for decades. On Thursday, as the notices were being handed out, one maintenance worker committed suicide by jumping from the city hall roof."It's like they decided to blow up the city," said Billy Folsom, 58, a mechanic who got a pink slip. "It's devastating."The cutbacks are necessary because the escalating costs of providing pensions for police, firefighters and other unionized employees are draining the city's revenue, city leaders say.Within three years, city projections show, more than one of every five tax dollars will be spent...(Read Full Post)