Our country's unsustainable fiscal policies are impacting our daily lives, our families and the fabric of our communities.
Let's have a look at your community. If you live in a large metropolitan area, we're willing to bet that you don't really have an accurate idea as to the magnitude of the monetary exposure of your city, your county and your local school districts.
Unfunded Liabilities The reason that unfunded liabilities are so critically important is that they hold the potential for one generation to do all the spending, while forcing the following generation(s) to pick up the tab.
Over the past four decades, state and local governments – across the nation - have amassed enormous and unsustainable public debts to their employees – debts arising from the unsecured promise of lifetime healthcare benefits to their employees, yet unsupported by any corresponding financial investments over the decades. Largely unreported, little known and even less-well understood, this class of unfunded debt obligations not only threatens the future continuation of such programs, but also portends unsustainable economic burdens for our younger generations of Americans who had no role in their making and stand to derive no benefit from their creation.
First, to publicize and expose this little known and largely unreported new class of debt obligations and the consequences for our economy and the burdens they pose to future generations of young Americans. Secondly, to actively engage the American public in participating – in discovering, reporting and publicly discussing their opinions, hopes and concerns in connection with the issue. Thirdly, to actively engage the leadership of our communities, our states and the nation in a frank and honest discussion of the problem and examination of the issues – with the objective of resolving a path forward which provides certainty to both public employee and taxpayer alike – while insuring that no similar situation will arise in the future.
Discover unfunded liabilities in your community.Is your state not listed? Help by submitting an unfunded liability report.
Sustainable communities, like nations, do not just happen. One aim of Informed Majority is to make the connection between community-level financial conditions and the long term health of their communities. Successful communities are the product of active civic engagement and participation of their residents. We hope you will spend the time to explore our site. We welcome your questions. If you would like to learn more or become more involved, please visit our PROJECT UFO to learn more.