States ignoring debt: California has $92,000 debt per household and Illinois has $84,000 debt per household (dollars, retirement)

[lovecrowds]

Key Matrix List

Hopefully, they really enjoy paying all these pensions for services that has been peformed by public employees.

California at market value with a 2.75% return has $1.1 trillion in unfunded pensions

http://us.pensiontracker.org/stateSu...ld21&summary=1

Illinois has 400 billion dollars in unfunded pensions assuming 2.75% rate of return

http://us.pensiontracker.org/stateSu...ld21&summary=1

The retirees were promised that and hopefully they get every penny and the states have to raise taxes and cut services to pay for all of it.

It is so interesting how Illinois and California plan to expand all these programs infused with socialism which means increased expenditures and are completely ignoring the liability.

California is estimating a 7.48% rate of return from today's all time high asset and equity prices.

[Neerwhal]

Washington have great private retirement for state employees and we also outsource a LOT.

Happy to see us down the list. Debt is not always bad but it is.good to be judicious.

[Seacove]

Why no mention of the red state of Alaska as number one?

[Kaphawoman]

Originally Posted by Seacove

Why no mention of the red state of Alaska as number one?

Nobody lives there.

[DRob4JC]

Originally Posted by Neerwhal

Washington have great private retirement for state employees and we also outsource a LOT.

Happy to see us down the list. Debt is not always bad but it is.good to be judicious.

Debt is always bad. The reason it seems to NOT be bad is because the people rig the system so that debt appears to be advantageous.

So when there are a country of people who say debt is not bad... you end up with a government that's $20T in debt.