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US Public Pensions Face $2,000bn Deficit

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EH, 2000, NO BIGGIE. OH, WAIT. THAT MEANS 2 TRILLION?
"The US public pension system faces a higher-than-expected shortfall of more than $2,000bn that will increase pressure on many states’ strained finances and crimp economic growth, according to the chairman of New Jersey’s pension fund," the Financial Times reported. "A shortfall of that size could force state governments to take unpalatable decisions such as pouring more public money into their funds or reducing pension benefits. State and local governments have already cut spending to close budget deficits."
SOURCE:   Financial Times

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