Largest Public Pensions Face $2 Trillion Hole, Moody’s Says | Bloomberg

U.S. states and cities are contending with underfunded worker retirement systems. The 18-month recession that ended in June 2009 wiped out asset values and forced cuts to contributions.

Now, liabilities are crowding out spending for services, roads and schools.

via Largest Public Pensions Face $2 Trillion Hole, Moody’s Says – Bloomberg.