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How Public Pension Promises Are Draining State and Local Budgets
BusinessWeekLink to more items from this source
June 6, 2005
Excerpt: State and local governments, hard hit by the economic downturn of 2001, find themselves in a financial bind. While sharp anti-tax sentiment constrains revenue and governments face new outlays for everything from homeland security to No Child Left Behind, there's a growing feeling that the retirement promises made to everyone from office workers and state patrols to firefighters and legislators may simply be unbearable.

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