Underfunded Public Pensions as “Stranded” Costs? Two Trillion Dollars?

Kenneth Anderson writes at the Volokh Conspiracy: “The Financial Times runs a story today by Francesco Guerrera and Nicole Bullock on the looming problems of underfunded public pensions at the state and local level in the United States . . . ‘Estimates of aggregate funding requirement of the US pension system have ranged between $400bn and $500bn, but Mr Kramer’s analysis concluded that public funds would need to find more than $2,000bn to meet future pension obligations.’”