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State Governments: Immobile, Going Broke, And High On Wine

October 8, 2011

by USDAgov Many state and local governments are heading towards financial insolvency as a result of their state employee pension and retiree medical liabilities. Consider an article from the October 18, 2010 issue of Businessweek magazine: – According to a study by the University of Rochester and Northwestern University, there could up to as much as $ 3 TRILLION in unfunded state workers’ retirement liabilities. This comes out to about $ 26,000 worth of debt

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