American Thinker: Expose the Public Pension Mess

It seems that many members of the incoming Congress are mindful of the looming tsunami of unfunded state and municipal worker pension liabilities, not to mention the impending insolvency of cities and even states (such as California, Illinois, and New York). A recent estimate put these unfunded public employee pension liabilities at as much as $3.574 trillion. As frightening as that estimate is, it is probably unrealistically low."