Loading ...Can you say: Bad Governance! The idea that the taxpayer can afford to pay such extravagant pensions is just INSANE. I would love to see the states (many have underfunded pension funds) be forced to cope with the results of their own stupidity but I think it’s likely that the Fed gov will bail them out. Unfortunately.
More can kicking until it’s impossible to do so.
I believe it’s already happened in Puerto Rico.