OPINION: Looming Pension Crisis Is So Big That It Will Haunt Everyone
Writing for Newsmax’s Finance column, John Mauldin suggests the total unfunded pension liabilities for the entire country are as large as $6 trillion. As pension fund underfunding has increased, governments entities across the country have had to reduce services to try to keep up. Maudlin points out California as the leading example, referencing a Brookings Institution article on California’s school districts deferring maintenance, increasing class sizes, and offering fewer enrichment opportunities, as a means to keep up on pension costs.
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