[tomder55]

Unfunded Liabilities for state pensions have climbed to $8.28 trillion according to a report by The American Legislative Exchange Council .

Unaccountable and Unaffordable, 6th Edition - American Legislative Exchange Council (alec.org)

"Many experts feared dramatic pension investment losses in 2020," the authors wrote. "Even in years where investment returns beat the assumed return, public pensions cannot invest their way out of the problem of growing unfunded liabilities. ... The problems of pension underfunding are structural. Poor assumptions, over promising benefits, chasing returns, and political investment strategies plague public pensions across the country."
That is $25,000 owed by every single American. California ($1.53 trillion), Illinois ($533.72 billion), Texas ($529.70 billion), New York ($508.70 billion) Ohio ($429.53 billion). These 5 states account for more than $3.5 trillion in unfunded liabilities, or about 43% of all unfunded liabilities in the U.S.

California ($1.53 trillion), Illinois ($533.72 billion), Texas ($529.70 billion), New York ($508.70 billion) and Ohio ($429.53 billion). These five states account for more than $3.5 trillion in unfunded liabilities, or about 43% of all unfunded liabilities in the U.S. No state in the U.S. has fully funded its pensions.

All these states have their coffers full of covid relief money .California has a $301 billion surplus this year . So what does that moron Guv Newsome want to do with the surplus ? About half of it is mandated for education (fund teacher's pensions ? Nah) He only wants to allocate $3.4 billion to fund state pensions . He wants to allocate $43 billion to climate change .

Just a reminder ;the Constitutional Convention was convened because States were debt ridden and many could not pay the debts they accumulated during the Revolution. The Articles of Convention had no means to address this problem. The solution ? States would join together in a Federal Constitutional Republic ;and in return the Federal Government would assume the debts the states had accumulated .
You know and I know that will be the ultimate solution .Those who have been fiscally responsible will pay for those who haven't been.