Why Does it Seem Like No One is Worried about Growing Public Pension Gaps?
CNBC had an article the other day highlighting the disturbing public pension gap that is growing at an alarming rate. While I didn't read the study by Moody's behind the article the statistics highlighted by CNBC are, to say the least, frightening: In less than a decade, that shortfall has tripled to at least $2 trillion—more than half of all outstanding state and local bond debt, according to a report by Moody's Investors Service. Moody's looked at the unfunded liabilities of the 25 biggest public retirement systems, which cover 40 percent of the $5.3 trillion in total U.S. public pension plan assets. Like nearly [...]