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Friday, June 30, 2006

$1 Trillion Shock Awaits States, Local Governments

Joe Mysak asks on Bloomberg.com:

"How much is it going to cost states and localities to pay for public employees' health care and insurance after they retire?

"Try between $700 billion and $1 trillion, say two new reports on the subject. " Read more.

As Rick Dreyfuss noted in his report, Beneath the Surface, this liability will be as crushing to the taxpayers as the looming pension crisis. Yet Gov. Rendell has not released the numbers for PA. Hmmm ... could this be an election year suppression of VERY BAD information for the taxpayers? Methinks so. If not, why hasn't the Rendell Adminstration tackled this fiscal problem as other states are doing?

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