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Pethokoukis, Economics, U.S. Economy

When economists talk about mismanaged US states, one gets special mention

A new IGM Forum poll of economists finds large, confident majorities who think US states are (a) understating pension liabilities and (b) at risk — at least some of them — of eventually needing a combo of austerity budgets, a federal bailout, and/or default unless they soon increase taxes, cut spending, or change their pension systems. Now this post really isn’t about pension liabilities. It is about how in the survey of these economists one state repeatedly received special mention for its fiscal woes: Illinois. read more >