Heavy Lifting - thoughts and web finds by an economist
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Tuesday, April 13, 2010

When an immovable object meets an irresistable force?

From the Sacramento Bee:
On top of that, those cities and counties owe about $8 billion in pension-related bond debt – all in a time of shrinking budgets. In many areas, the total pension shortfall is more than the annual payroll; in some, it is more than the general fund budget.


Ouch.

More here

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