John Cochrane on Putting Your Pension Money Where Your Mouth Is
Posted in Behavior, Economic Illiteracy, Financial Institutions, Government Gone Wild, Personal Finance on Jul 25th, 2013
Just how badly are public pensions underfunded? Here’s a great way to extract an answer: A good response occurred to me, to those cited by Josh who want to argue that underfunding is a mere $1 trillion. OK, let’s issue the extra $1 trillion of Federal debt. Put it in with the pension assets. Now, […]
