The First 10 Major Cities That Will Run Out Of Pension Fund Money.

[Ponce]

The First 10 Major Cities That Will Run Out Of Pension Fund Money.

Projections by Robert Novy-Marx and Joshua Rauh show the average city has $15,000 per household in unfunded pension liabilities. A lot of it is off-balance sheet, hidden from easy public view. Many, many cities are in trouble. Here are the top ten major cities that are in trouble and when they will run out of money:

#1 Philadelphia- Unfunded liability of $9 billion, $16,696 per household, only 4 years before the pension accounts are empty

#2 Chicago- Unfunded liability of $44.8 billion, $41.966 per household, money runs out in 7 years

#3 Boston- Unfunded liability of $7.5 billion, $30,901 per household, money runs out in 7 years

#4 Cincinnati- Unfunded liability of $2 billion, $15,681 per household, money runs out in 8 years

#5 St Paul- Unfunded liability of $1.4 billion, $13,686 per household, money runs out in 8 years

#6 Jacksonville- Unfunded liability of $4 billion, $12,944 per household, money runs out in 8 years

#7 New York City- Unfunded liability of $122 billion, $38,866 per household, money runs out in 9 years

#8 Baltimore- Unfunded liability of $3.7 billion, $15, 420 per household, money runs out in 10 years

#9 Detroit- Unfunded liability of $6.4 billion, $18,643 per household, money runs out in 11 years

#10 Fort Worth- Unfunded liability of $2 billion, $7,212 per household, money runs out in 11 years

http://www.economicpolicyjournal.com/2010/12/first-10-major-cities-that-will-run-out.html

[mick silver]

they will take from the small tax payers to pay this . but after time the tax payer can no longer feed the big monster they have made . so the house of bricks will come down . this will play out all over this country

[cedarchopper]

The worst city in the country is 4 years away from running out of money and #10 has 11 years...that is an eternity in government finances.

[Silver Shield]

If you live in any of those fiefdoms....


GET OUT!

[Spectrism]

7 years is the soonest? Not a problem. None of us will be here in 7 years.

Now, if you calculate that less than half of current "revenue" (and I hate that word) will be available as soon as next year, what does that do to the time scale?

[Twisted Titan]

I feel the Hyperinflation is coming to America in the with in 5 years

Im Talking Zimbabewe

These Pensions are toilet paper

[Ponce]

TITANNNNNNNNNNNNNNNNNN?.......don't you dare insult my toilet paper.......they are now more valuable than the fiat......can you wipe your hummmmmmmm ehem.....with the fiat?