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EXography: Unfunded public employee pensions drive state debts skyward

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State governments are piling up debt almost as fast as the federal government, with a total of $5.1 trillion now on their books. Calculated on a per capita basis, the $5.1 trillion represents an obligation of $16,178 for every state resident in the country, according to State Budget Solutions' fourth annual State Debt Report. “ "They tie the liability to the expected return. That's like...

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