The Political Economy of Government Employee Unions by Thomas DiLorenzo

http://www.lewrockwell.com/dilorenzo/dilorenzo203.html

"The Wall Street Journal reports that state and local governments in the United States currently have $3.5 trillion in unfunded pension liabilities." That is like 3.5 million duffel bags stuffed with $100 bills (assuming $1,000,000 per bag).

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