"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
The State Government Pension Crisis
"The budget crisis many state governments are facing has received lots of publicity, and also produced lots of federal bailout money. Meanwhile, over the longer run state governments are facing a potentially more serious problem because of unfunded liabilities in their pension systems."
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