The Epoch Times: States Face $1 Trillion in Unfunded Liabilities
The Epoch Times covered the new OPEB liabilities report from the ALEC Center for State Fiscal Reform.
States are facing more than $1 trillion in unfunded future liabilities related to health and life insurance benefits for their retired employees, a growing shortfall that amounts to about $3,100 for every person in the United States, according to a new report by the American Legislative Exchange Council (ALEC).
“While a trillion dollars is a rounding error in Washington, D.C., at the state level, it’s a huge threat to government programs and taxpayers,” Jonathan Williams, chief economist and executive vice president of policy at ALEC, told The Epoch Times in an interview.
Read the complete article in The Epoch Times.