{"id":56229,"date":"2016-11-04T16:34:44","date_gmt":"2016-11-04T16:34:44","guid":{"rendered":"http:\/\/127.0.0.1\/site\/2017\/2\/1985\/bi_u-s-_public_pension_plans_are_headed_for_a_disaster_on_the_current_traje\/"},"modified":"2016-11-04T16:34:44","modified_gmt":"2016-11-04T16:34:44","slug":"bi_u-s-_public_pension_plans_are_headed_for_a_disaster_on_the_current_traje","status":"publish","type":"post","link":"https:\/\/kendallharmon.net\/?p=56229","title":{"rendered":"(BI) U.S. public pension plans are headed for a disaster on the current trajectory"},"content":{"rendered":"<p> The combined debt held by U.S. public pension plans will top $1.7 trillion next year, according to a just-released report from Moody\u2019s Investors Services.<\/p>\n<p>This \u201cpension tsunami\u201d\u009d has already forced towns like Stockton, California and Detroit, Michigan into bankruptcy. Perhaps no government mismanaged their pension as badly as Puerto Rico, where a $43 billion pension debt forced the commonwealth to seek protection from the federal government after having defaulted on its obligations to bondholders \u201d\u201d a default which is expected to spread to retirees in the form of benefit cuts.<\/p>\n<p>While the disastrous outcome of Puerto Rico\u2019s pension plan \u201d\u201d which is projected to completely run out of assets by 2019 \u201d\u201d represents the worst-case scenario, the same series of events that led to its demise can be found in most public pension plans nationwide.<\/p>\n<p><a href=\"http:\/\/www.businessinsider.com\/government-pension-problems-2016-11\">Read it all<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The combined debt held by U.S. public pension plans will top $1.7 trillion next year, according to a just-released report from Moody\u2019s Investors Services. This \u201cpension tsunami\u201d\u009d has already forced towns like Stockton, California and Detroit, Michigan into bankruptcy. Perhaps<span class=\"ellipsis\">&hellip;<\/span><\/p>\n<div class=\"read-more\"><a href=\"https:\/\/kendallharmon.net\/?p=56229\">Read more &#8250;<\/a><\/div>\n<p><!-- end of .read-more --><\/p>\n","protected":false},"author":794,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[39,40,103,175,615,589,595,149,168,597,662,593,151,129,619,599,34],"tags":[],"class_list":["post-56229","post","type-post","status-publish","format-standard","hentry","category-culture-watch","category-economics-politics","category-aging-the-elderly","category-anthropology","category-city-government","category-corporationscorporate-life","category-credit-markets","category-economy","category-ethics-moral-theology","category-laborlabor-unionslabor-market","category-pensions","category-personal-finance","category-politics-in-general","category-psychology","category-state-government","category-stock-market","category-theology"],"_links":{"self":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/56229","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/users\/794"}],"replies":[{"embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=56229"}],"version-history":[{"count":0,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=\/wp\/v2\/posts\/56229\/revisions"}],"wp:attachment":[{"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=56229"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=56229"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/kendallharmon.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=56229"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}