One major concern making its way to the top of the legislative agenda are state and local public pensions. It is estimated that there is as high as $1 trillion dollars in unfunded liabilities, causing Congress to question if the federal government will be asked to bail out these pension plans. Others are concerned that the problem will force states in bankruptcy. The major cause of the problem can be attributed to the 2008 financial markets’ collapse.
For more information on the pension problem, visit the National League of Cities website.