The US government has nowhere near enough money to pay retirees. The credit-rating agency Moody's says state, local, and federal governments are about $7 trillion short in funding coming pension payments. "The unfunded liabilities of the various federal employee pensions systems, covering civilian and military employee benefits, amount to about $3.5 trillion, or 20% of US GDP," a release from Moody's said Wednesday. "Additionally, Moody's estimates that unfunded state and local government pensio...
The US government has nowhere near enough money to pay retirees. The credit-rating agency Moody's says state, local, and federal governments are about $7 trillion short in funding coming pension payments. "The unfunded liabilities of the various federal employee pensions systems, covering civilian and military employee benefits, amount to about $3.5 trillion, or 20% of US GDP," a release from Moody's said Wednesday. "Additionally, Moody's estimates that unfunded state and local government pensio...
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