$5 Trillion Price Tag for Public Pensions

$5 Trillion Price Tag for Public Pensions - The Best Life (usnews.com)
As strapped state and local governments scramble for ways to balance their budgets, it's become very clear that it will be impossible for many to honor their pension promises to new employees and even current retirees.
According to a recent economic study, the cost to fully fund these promises would cost taxpayers $5 trillion over a 30-year period, or nearly $1,400 a year in higher state and local taxes and fees for every household in the country.