The Public Pensions Time Bomb
Unless you’re OK with your city going full Detroit and giving more of your hard-earned money to pay off someone else’s debt, then you need not worry about public pension liabilities. Although pensions have been smartly phased out in the public sector, they are alive and well in government, eating city and state budgets alive. Joshua Rauh, professor at Stanford University and senior fellow at the Hoover Institute, says the public pension system is severely broken and offers some solutions in this episode of PragerU.
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