American Pension Crisis

I have written in previously about the pension problems many States and Municipalities have with their current obligations and assumptions – Forbes recently published a very good primer:

• Forbes – American Pension Crisis: How We Got Here – Forbes

These problems are not improving – and are not confined to one State or Pension Fund:

• Kera News – Across Texas, Public Pensions Face Billions In Shortfalls
• The Post and Courier – South Carolina’s looming pension crisis | News | postandcourier.com
• Capital Public Radio – When It Comes To Pensions, Illinois Is California’s Ghost Of Christmas …

As usual – New Jersey insists on being the poster child for bad behavior:

• ZeroHedge – Pension Ponzi Squared: New Jersey Wants To Sell Debt To Its Own Insolvent Funds

At some point – the taxpayers in these States will be on the hook – I saw it in New Jersey before I moved to Virginia – with the highest property taxes in the Nation and crumbling roads and infrastructure.

Of course – the Donald has his own take on this problem:

• City Journal – How Trump Can Stop the Pension Mess from Spreading | City Journal
• The Washington Post – Trump has a plan for government workers. They’re not going to like it …

Not sure public workers are going to appreciate his approach.