Wednesday, July 08, 2009

The Big Public Pension Squeeze

The Big Public Pension Squeeze: "The cost of public sector pensions is set to soar in coming years because the recent meltdown in the financial markets has worsened the health of systems that were already badly underfunded. Municipal and state governments across the country are struggling with massive budget shortfalls, leaving them in no position to fill the pension gap. As a result, public workers look likely to bear the burden through cutbacks in their salaries and benefits and increases in their pension contributions."
True, but why did they have to interview Gray Davis?

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