Pension Bailouts Would Add to Debt

If Congress bails out private union pension plans, how will it say no to teachers, police, and firefighters who come to the federal government asking for a bailout of their state and local pensions that have an estimated $4 trillion to $6 trillion in unfunded pension promises? The current debt, plus Social Security’s and private and public pension plans’ shortfalls, would amount to about $338,000 in debt for the average household.

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Created November 15, 2019

Source: Heritage Foundation Analysis

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