Thank you. I see your point. It's only one year of fiscal budget. That's not immense, but only impactful. I was putting some (actuarial) things I know little of

Thank you. I see your point. It's only one year of fiscal budget. That's not immense, but only impactful. I was putting some (actuarial) things I know little of together in my mind. US state pensions being unfunded, large risks being handed over to state insurers. Quite different than EU, in actually the opposite way than I'd imagine.