By Michael Katz, includes “Unfunded retirement liabilities are the main contributing factor to state-level debt, according to a new report from conservative think tank Truth in Accounting (TIA). … ‘This means that to balance the budget – as is supposedly required by law in 49 states,’ said the report, ‘elected officials have not included the true costs of the government in their budget calculations.’ …”
Read the full article on: Chief Investment Officer