Stephen Moore :The Federal Government Cannot Bail Out the Blue States
(From Real Clear Markets)
We also know the states with the largest unfunded liabilities in their public pension programs are California, Illinois, New Jersey and so forth. These states handed out massive pension benefits that, in some cases, pay $100,000 or more per year to former government workers, which generally ranges from 30% to 50% — and in some cases, 100% — more than private sector workers (who pay the government workers’ salaries) get.
Reprinted from: https://www.ac2news.com/2020/05/stephen-moore-the-federal-government-cannot-bail-out-the-blue-states/