State pensions

Terry Says

That’s a good question. I doubt that payments will be impacted because even though states cannot print money, they also cannot declare bankruptcy! I assume the Federal government would back the state pensions.
But if they print enough money to do that for California (and Illinois, and many other affected states) the real question is what the money would be worth! What those fixed pensions would be able to buy —
I hope it doesn’t come to that. We need to get the country growing again to make those promised pension payments.