Public employee pension funds are sitting on trillions of dollars.
“Public employee pension funds are sitting on trillions of dollars.”
Trillions of dollars of obligations, but very little on the other side of the ledger to pay those obligations. Public Employee Pensions, like Social Security, are devolving into pay as you go (paid by current taxpayers, that is) or, even worse, borrow as you go. It’s been a house of cards for decades and I am amazed that it hasn’t already completely collapsed.