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Buffett Says More Bad News on State and Local Pension Funds During Next Decade
Reuters Link to more items from this source
Mar. 2, 2014
"Berkshire Hathaway chief executive Warren Buffett warned ... that the growing crisis in public pensions will intensify, with 'a lot' of bad news to come.... Buffett said: 'Local and state financial problems are accelerating, in large part because public entities promised pensions they couldn't afford. Citizens and public officials typically under-appreciated the gigantic financial tapeworm that was born when promises were made that conflicted with a willingness to fund them.'"

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