"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
New Estimate: Public Pensions Underfunded by $4.1 Trillion
"The report, by SBS’ Cory Eucalitto, estimates the nation’s state-level defined benefit pension plans to be underfunded by $4.1 trillion, with a funding ratio of only 39 percent — well below the 73 percent shown through official reporting."
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