{"id":175,"date":"2010-05-21T08:17:49","date_gmt":"2010-05-21T12:17:49","guid":{"rendered":"http:\/\/www.multiplier-effect.org\/?p=175"},"modified":"2010-05-21T09:13:54","modified_gmt":"2010-05-21T13:13:54","slug":"promises-promises-and-more-promises","status":"publish","type":"post","link":"https:\/\/blogs.bard.edu\/multiplier-effect\/promises-promises-and-more-promises\/","title":{"rendered":"Promises, promises, and more promises"},"content":{"rendered":"<p>From today&#8217;s NY Times:<\/p>\n<blockquote><p>The cost of public pensions has been systemically underestimated nationwide for more than two decades, say some analysts. By these estimates, state and local officials\u00a0have promised $5 trillion worth of benefits while thinking they were committing taxpayers to roughly half that amount.<\/p><\/blockquote>\n<p>As Dimitri Papadimitriou <a href=\"http:\/\/www.multiplier-effect.org\/?p=146\">said on this blog recently,<\/a> we are facing a multidimensional pension crisis in this country. A coherent national retirement system&#8211;truly comprehensive Social Security obviating private pensions&#8211;might have avoided these runaway state and local pension obligations, which may yet end up on the federal balance sheet.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From today&#8217;s NY Times: The cost of public pensions has been systemically underestimated nationwide for more than two decades, say some analysts. By these estimates, state and local officials\u00a0have promised $5 trillion worth of benefits while thinking they were committing taxpayers to roughly half that amount. As Dimitri Papadimitriou said on this blog recently, we [&hellip;]<\/p>\n","protected":false},"author":212,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4,3],"tags":[26],"class_list":["post-175","post","type-post","status-publish","format-standard","hentry","category-economic-policy","category-employment","tag-pensions"],"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/users\/212"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/comments?post=175"}],"version-history":[{"count":3,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/175\/revisions"}],"predecessor-version":[{"id":177,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/posts\/175\/revisions\/177"}],"wp:attachment":[{"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/media?parent=175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/categories?post=175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.bard.edu\/multiplier-effect\/wp-json\/wp\/v2\/tags?post=175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}