Bankrupting the Future
Econbrowser provides a quick peek at how underfunded local governments are with respect to their promised pensions and health benefits. The scary part is this is during a bull market. During the next recession these numbers are going to get much worse. It wouldn’t surpise me if we see a number of small municipalities declare bankruptcy because of their inability to meet their pension obligations.
This entry was posted by David on April 24, 2007 at 7:40 pm, and is filed under Health, Retirement. Follow any responses to this post through RSS 2.0.Responses are currently closed, but you can trackback from your own site.