The financial hole of state and local governments

And people still have faith in government–and Republicans and Democrats???  This is just the tip of the iceberg.  The federal government’s unfunded liability is more than $200 trillion. 

“If the Actuarial Standards Board enacts recommendations from its Pension Task Force, actuarial valuations for state and local government pensions will report unfunded liabilities of over $5 trillion a…”

Source: Are State and Local Government Pensions Underfunded by $5 Trillion? – AEI

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