Writing for Newsmax’s Finance column, John Mauldin suggests the total unfunded pension liabilities for the entire country are as large as $6 trillion. As pension fund underfunding has increased, governments entities across the country have had to reduce services to try to keep up. Maudlin points out California as the leading example, referencing a Brookings Institution article on California’s school districts deferring maintenance, increasing class sizes, and offering fewer enrichment opportunities, as a means to keep up on pension costs.
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