US States Have a Combined Total of $5TRILLION in Debt: (employment, wage)

[Skydive Outlaw]

"A new report released this week says state governments have more than $5.1 trillion in debt, largely because of pension obligations to former and current state employees, which states now lack the assets to pay off. Pension debt accounts for more than $3.9 trillion of that total."


I guess everyone needs their pensions. . . . . .

And all paid for by taxpayers.

Cut up the credit cards: States have $5T in debts taxpayers will have to pay | Fox News

[Skydive Outlaw]

State pension liabilities top $4 trillion. . . .


State pension liabilities top $4 trillion « Watchdog.org

[Swingblade]

I am surprised this thread is not getting any responses but then again it is CD where lately nonsense threads are the ones getting legs. This is a big problem considering where the jobs report are showing the most gains in PT work and low wage employment leading the way.
Right now in Ohio the state has a rainy day fund but that could soon disappear with the added cost Of Medicaid enrollment and the state pension problem that your thread suggest. And of course elections play a role where someone is elected and spends the rainy day fund and then some.

It will be interesting to see how this plays out and what role the federal gvt will take. Would anybody be shocked if the federal gvt steps in and bails states out? I think we will be hearing a lot more on this subject down the road.