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It'll be interasting what's going to happen with state pensions when the burden is just too high. In the next 15 years one of these IL, NJ or HI will be at a br
by mtanski 10y ago
It'll be interasting what's going to happen with state pensions when the burden is just too high. In the next 15 years one of these IL, NJ or HI will be at a breaking point. My bet is on IL since the approx date of falling off the cliff is 2028.
- throwaway1979 10y agoAccording to the book (the author did do some financial analysis but I forget the details), if these states sell a small fraction of their assets, they will be able to pay off all their debt. I'm definitely not agreeing with the author's point of view, but that is something I had not thought about before. i.e. while your debt may be a lot higher than your income, if you have sizable assets, you an get away with it for a while.