Friday, December 4, 2020

Tag: Most US States Drowning in Red Ink

Most US States Drowning in Red Ink

by Peter Schiff, Schiff Gold:

The federal government isn’t alone drowning in debt. Most US states don’t have enough money to pay their bills either.

That was the conclusion of the Truth in Accounting annual State of the States 2018 report. According to the report, American states have racked up $1.5 trillion dollars in unfunded state debt. Much of the red ink is related to pension plans and retiree benefits