Public pensions
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Kentucky currently has one of the largest pension funding gaps of any U.S. state.
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Budgets/Taxes
Unless Lawmakers Act Now, Pension Debt Hurricane Will Swamp Taxpayers
by Jesse Hathaway October 27, 2016Unless lawmakers in local and state governments act now, the problem of underfunded public pension plans will come ashore in the foreseeable future, hitting taxpayers with tax hikes and crippling debt, a true financial hurricane caused by decades of elected officials’ poor planning.
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Budgets/TaxesPolitics
Illinois Governor Decries Spending Cuts in Budget that Grows $1.9 Billion
by Steve Stanek March 7, 2013Illinois Governor Pat Quinn on Wednesday presented his proposed budget for the next fiscal year and pronounced it “the most difficult budget Illinois has ever faced.” He added, “There are…
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Long after ramping up benefits radically during the pre-2008 economic growth period (and collecting lots of votes from unionized teachers), Michigan lawmakers are now reluctant to address the state’s imprudent,…
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EconomicsPoliticsTaxes
California is Screwed: Pensions, and Fiscal Collapse
by Jim Lakely May 8, 2011I used to live in California. I like to joke (to keep from crying) that I left the political and fiscal mess of the formerly Golden State for the sunny…