Wednesday, June 22, 2011

Public Pensions not fully funded

States have been warned that there is a $2 trillion short fall for public sector pensions.  To Fully fund these pensions state and local government will need to raise taxes $1400 per person per year for the next 30 years. Any politician that tries to reform the system faces a harsh backlash from unions, in the form of organization and campaign contributions.

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