Econblogger Mike "Mish" Shedlock has created a great interactive state-by-state map showing public sector pension deficits, based on a recent paper I wrote for AEI. (Here's the technical version while here's the plain-English version.)
I wish I could do these kinds of graphics things, but since I obviously can't you should check out Mish's site.
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2 comments:
I saw this chart on somebody's blog and had to work backwards to trace it to you. One nit regarding the graphical treatment - the use of blue is deceptive, and all of those plans are in deep trouble based on the data presented. Question: a lot of the plans you looked at are VERY underfunded (you would think this would be borderline criminal, actually) - has anyone done a study that looks at the impact on states down the road re: taxes and services including WHEN these issues will have to be dealt with?
Thanks, James. My paper for AEI touched on the burden pensions will put onto state budgets, but it's difficult to get too specific (or, at least, when you're looking at all the states at once). A focus on a single state might be able to show things more clearly, but obviously they're going to be in pretty tough shape going forward.
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