Maybe I’m Clare Voyant

I’m not a pessimist, but for some reason, I have always assumed that Social Security and other safeguards either wouldn’t be there when I got to 65, or would be drastically reduced. And by “always,” I mean “since junior high.” And it looks like my concept of a sterner, harsher future is turning out to have been correct.

States are $1.26 trillion in the hole when it comes to their pension and retiree health obligations, according to a report released Tuesday…

…And taxpayers are ultimately on the hook for this shortfall, which soared 26% in one year…

…States are largely responsible for this predicament. As tax revenues plummeted, many skipped part or all of their annual retiree benefits contributions as they struggled to pay for education, Medicaid and other services.

Now, watch me pull a rabbit out of my hat.


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