Thread: Muni watch
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Old 03-18-2011, 06:36 AM
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limabeanactuary limabeanactuary is offline
Mary Pat Campbell
Join Date: Jan 2010
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The thing is, of course, that if the pensions were well-funded, it would be difficult for the states to blame pension costs.

I'm just going to point to Illinois, which not only has been borrowing money to make its pension contributions (and they're still way way underfunded... and they've been cashing out assets in at least one major fund, in a very bad sign of a liquidation spiral), but also is way behind on its regular operational costs.... I'd say it's pretty fair to point to pensions, amongst many other state expenditures, as being unsupportable. And will not be supported 100%.

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