3.10.2011

Unfunded

Did Wisconsin Senate choose nuclear option in collective-bargaining fight? - CSMonitor.com

Federal Reserve Chairman Ben Bernanke...said recently that states could be on the hook for as much as $3 trillion in unfunded pension commitments and $600 billion in retiree health benefits.

So is it that they promised to pay these benefits but never really intended to, or that they sorta did intend to but now that it's time to do that they've changed their minds?

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