According to Business Insider, here are the top 10 U.S. cities whose pension obligations will soon collapse: (this article was originally published in 2010, so we have updated the "years" to reflect 2013) #1 Philadelphia - Unfunded liability of $9 billion, $16,696 per household, only 1 year before the pension accounts are empty #2 Chicago - Unfunded liability of $44.8 billion, $41.966 per household, money runs out in 4 years #3 Boston - Unfunded liability of $7.5 billion, $30,901 per household, money runs out in 4 years #4 Cincinnati - Unfunded liability of $2 billion, $15,681 per household, money runs out in 5 years #5 St Paul - Unfunded liability of $1.4 billion, $13,686 per household, money runs out in 5 years #6 Jacksonville - Unfunded liability of $4 billion, $12,944 per household, money runs out in 5 years #7 New York City - Unfunded liability of $122 billion, $38,866 per household, money runs out in 6 years #8 Baltimore - Unfunded liability of $3.7 billion, $15, 420 per household, money runs out in 7 years #9 Detroit - Unfunded liability of $6.4 billion, $18,643 per household, money runs out in 8 years #10 Fort Worth - Unfunded liability of $2 billion, $7,212 per household, money runs out in 8 years Learn more: naturalnews/041298_unfunded_liabilities_retiree_pensions_government_confiscation.html#ixzz2ZzA5Cxe4
Posted on: Wed, 24 Jul 2013 17:35:10 +0000
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