Recent Posts

Senate Is Killing State Welfare Reform

Jameson Taylor / The Daily Signal Farm Bills of the past have been used as a way to expand welfare ...

Read More

Guess whose Rights are More Important than Yours?

Written by The Common Constitutionalist/EagleRising What has been the clarion cry of the left? Of course it’s been one of disenfranchisement. They ...

Read More

Decision Time for America: Venezuelan-Style Socialism or Winning

                  American Liberty Report Chris Matthews of MSNBC has rediscovered that tingle up his leg that he hasn’t experienced since election night ...

Read More

Wealthy Liberal Elites Pose Threat To American Way

  ~ Conservative Zone Democrats have been misleading the American public for decades claiming that wealthy Republicans are a threat to working ...

Read More

Obama Admin Had the Chance to Cripple the Global Heroin Trade, But Chose to Play Politics Instead

                    ~ American Liberty Report The Obama legacy continues to crumble as news sources reveal that he and his administration torpedoed plans ...

Read More

Trump Responds To Russia Indictment: Where Is The DNC Server? Why Didn't Obama Do Something?

by Tyler Durden/zerohedge President Trump issued his first public comment about the indictment of 12 Russian military officers "for conspiring to interfere ...

Read More

Germany’s Shameful Iran Policy

Despite its dark past, Berlin continues to appease a regime seeking to murder six million Jews BY: Aaron Kliegman/The Washington Free Beacon  German Chancellor ...

Read More

NATO SECRETARY GENERAL PRAISES TRUMP FOR LEADERSHIP — SAYS HE AGREES WITH TRUMP ON SPENDING

Justin Caruso | Senior Media Reporter/DailyCaller NATO Secretary-General Jens Stoltenberg said that he agrees with President Trump on spending issues and ...

Read More

Iran Has Completely Stopped Harassing US Ships

  Ryan Pickrell / Daily Caller News Foundation Iran has completely halted its “unsafe and unprofessional” harassment of American vessels in the Persian Gulf. During ...

Read More

On Russian Gas and NATO Military Spending, Trump and Ukraine See Eye to Eye

Nolan Peterson / @nolanwpeterson /The Daily Signal President Donald Trump speaks during a press conference on the second day of the NATO ...

Read More

Latest News

[smoothslider]

Government Pension Plans Are Headed for Disaster

Share

 
By at Mises.org

The combined debt held by U.S. public pension plans will top $1.7 trillion next year, according to a just-released report from Moody’s Investors Services.

This “pension tsunami” has already forced towns like Stockton, California and Detroit, Michigan into bankruptcy. Perhaps no government mismanaged their pension as badly as Puerto Rico, where a $43 billion pension debt forced the commonwealth to seek protection from the federal government after having defaulted on its obligations to bondholders — a default which is expected to spread to retirees in the form of benefit cuts.

While the disastrous outcome of Puerto Rico’s pension plan — which is projected to completely run out of assets by 2019 — represents the worst-case scenario, the same series of events that led to its demise can be found in most public pension plans nationwide.

Read more

Comments are closed.

Polls

Please take our reader satisfaction poll. Please select one from each part.

View Results