Wednesday, April 11, 2012

Will state pension crisis be the tipping point?

Will state pension crisis be the tipping point? - The Hill's Congress Blog
This crisis that has been a long time coming and we are just beginning to grasp the magnitude of the state pension debt tsunami that’s going to hit us within the next decade.
Because virtually all states have some type of balanced budget requirement, it has been relatively easy to ignore the fact that unfunded pension obligations have been purposefully left off state balance sheets.
In truth, those obligations in most states far exceed the total of outstanding state debt, spending, and tax revenues combined.

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