State Budget Solutions' third annual State Debt Report shows total state debt over $4 trillion.
Market-valued unfunded public pension liabilities make up more than half of all state debt, accounting for $2.8 trillion of the total. These market-valued pension liabilities provide a realistic view of the money owed to public pension systems as a result of years of skipped payments, borrowed funds, and inaccurate discount rate assumptions.
Yes, and when does someone put this together with the Fed buying all the bundled mortgages?