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Pension Shortfalls Reach the Trillions

By The Wall Street Journal

Extended lifespans, unrealistic investment expectations and excessive promising by politicians are among factors that have led to a hole in U.S. state and local pensions rivaling the GDP of Japan. Wall Street Journal reporter Sarah Krouse explains. (Update: Moody's now estimates the pension hole is around $4 trillion, not $5 trillion as originally reported.)Learn more about your ad choices. Visit megaphone.fm/adchoices

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