The Ticking Time Bomb of State Debts
Fergus Hodgson, October 10, 2019 
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Many US states claim to balance their budgets, but for decades they have underreported or understated huge liabilities in pension benefits.
Every year, Bill Bergman, director of research with Truth in Accounting, shines light on the real situation with the Financial State of the States report. Total unfunded state debt amounted to $1.5 trillion in 2018, and there has been little improvement since the study’s first edition in 2009.
He explains one day investors will see the writing on the wall and stop showing up at bond sales, leaving state employees in a perilous position.
Our weekly interview with the Discovery Group, our valued sponsor, features Dunnedin Ventures CEO Claudia Tornquist, who explains the company’s new focus on copper.
Recommended Links
- Connect with Bill on Twitter and read this year’s “Financial State of the States.”
- “Recession Indicator Provides a Reminder about Government Financial Reporting,” Truth in Accounting.
- “Pension Debt Accounts for Over Half of All Debt for US States,” Chief Investment Officer.
- Watch “Top 5 Sunshine States and Bottom 5 Sinkhole States 2019.”
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If You Liked This Episode
- “What Sinkhole States Don’t Want You to Know,” Gold Newsletter Podcast.
- “Puerto Rico: Tax Haven or Economic Disaster?” Gold Newsletter Podcast.
- “Cris Linge: Unions Have Dug their Own Pension Grave” Gold Newsletter Podcast.
- “The Egalitarian Conquest of America,” Gold Newsletter Podcast.
Fergus Hodgson is Gold Newsletter’s roving editor. Follow him on Twitter and Facebook.
