Maryland's Pension Tsunami
"The Pew Center on the States released earlier this week 'The Trillion Dollar Gap: Underfunded State Retirement Systems and the Roads to Reform.'
It should have been called 'The Road to Serfdom' like the Hayek classic.
According to the report, Maryland's 'management of its long-term pension liability is cause for serious concern.'
It shows that Maryland's liabilities grew 77 percent from 1999 to 2008 while assets only grew 43 percent, a recipe for MUCH higher taxes."
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