|
Political Factoid
The unfunded liabilities* of public pensions
is $3 trillion
for the various states.
| * |
These are promises** to make future payments
of "deferred wages" -- just like a mortgage
is a promise to make payments in the future.
Virtually all states are currently "below water."
|
| ** |
Many Republican governors are trying to break such promises.
|
cf.
971,
972
|
|
-30-
|
