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Pension debt

JerryBrownSigns

Jerry Brown Wants 42% Gas Tax Hike to Bail Out CalPERS

Despite tax collection increasing by 50 percent in the last 9 years, California’s public pension insolvency is forcing Gov. Jerry Brown to propose a dangerously unpopular 42 percent increase in gasoline taxes and a 141 percent increase in vehicle registration fees.

In this handout provided by the National Aeronautics and Space Administration (NASA), a second full moon for the month of July rises behind the dome of the U.S. Capitol on July 31, 2015 in Washington, DC. In recent years, people have been using the name Blue Moon for the second …

Stanford: Public Pension Debt Jumps 84%, to $4.8 trillion

The latest report from the Stanford Institute for Economic Policy Research has revealed that the public pension debt for the 50 states and the District of Columbia jumped 84 percent in recent years, from $2.625 trillion in 2008 to $4.833 trillion in 2014.

Reuters / Max Whittaker

California Audit Reveals Pension Debt Grew by 2,000%

Government accounting rules have forced a California audit that has revealed an increase in the “debt” it owes for pension liability by 2,000 percent this year. The state could nearly double the debt again next year when it is forced to account for unfunded retiree health benefits.

Houston Sinking

Report: ‘Swamped: How Pension Debt is Sinking the Bayou City’

The City of Houston has become swamped by its debt owed to employee pension funds.The Laura & John Arnold Foundation recently issued a very clear report on the condition of the City of Houston Pension funding. The eleven-page report is titled, “Swamped: How Pension Debt is Sinking the Bayou City,” is attached at the bottom of this article.