American States on the brink of financial catastrophe

In the third year of the worst recession since the 1930's many States totter on the brink of catastrophe, after generations of imprudent management.  Ahead lie even greater challenges, as employees cash in on their insanely generous pensions.  A few charts tell the tale -- showing America's most profligate states -- from "The State of California … Continue reading American States on the brink of financial catastrophe

About the coming crisis in public pensions

Nicely said, by Nick Gillespie in article #2 below: 'There is a looming showdown in American society between public-sector employees and the rest of us, in terms of job security and, especially, unsustainable gold-plated retirement and health benefits that are working hard to bankrupt whole states." The massive underfunding of  public pension systems results -- … Continue reading About the coming crisis in public pensions