All Commentary
Friday, March 4, 2011

Public Pension-Fund Deficits Underestimated

“The pension funds for state and local workers in the United States are understating the amount they will owe workers by $1.5 trillion or more, according to some economists who have studied the issue, meaning that the benefits are much costlier than many governments and taxpayers thought.” (Washington Post)

Creative accounting

FEE Timely Classic
“How Unions Are Bankrupting California” by Steven Greenhut