Friday, May 1, 2009

Some real (scary) numbers from Frankfort

Kentucky Retirement Systems on Friday reported $3.7 billion in investment losses in the last six months of 2008 in the public employee benefits accounts.

It's not good news, nor is it unexpected, but with the highly questionable budget "shortfall" projections bouncing around the last couple of days, it is nice to get some government figures that have a basis in reality.

And with our reality-check, let's take the opportunity to remind everyone that continued failure to properly fund public employee benefits will bankrupt the state.

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