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California's Pension Costs Cause Reduction in Services by Local Governments
Pension Pulse Link to more items from this source
[Opinion]
Oct. 6, 2017
"[M]any US public pensions are chronically underfunded and will not be able to sustain another financial crisis.... Until we reach the boiling point, the pension 'crowding out' effect will continue taking a big chunk out of public budgets, leaving less money for governments to spend ... [No] matter what you do to slay the public-sector pension beast, it's deflationary, and with inflation in freefall, the long-term effects are self-reinforcing."

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