Sunday, October 30, 2016

Pension Debt Hurricane Will Swamp Taxpayers

Jesse Hathaway
A new report published by Moody's Investment Services estimates the current total cost of state governments pension program liabilities at about $1.25 trillion. By the end of the current fiscal year, state government's pension liabilities will increase by another $500 billion, or about $1.39 billion in additional promised entitlements for government employees each day. Lawmakers have a responsibility to take seriously the pension hurricane warning, because taxpayers will be the ones paying the bill when promises come due and the money isn't there in the future.........Read More....

No comments: