From 2019, state pension debt is valued at approximately $5.2 trillion. State and local sales tax revenue has virtually disappeared.
$5.2 Trillion Of Government Pension Debt Threatens To Overwhelm State Budgets, Taxpayers
Pension Tracker has collected data from around the nation (calculating) the total market pension debt in California (at) more than $1 trillion, or $78,334 per household… Nationally, Pension Tracker calculates the total pension debt on a market basis at $5.2 trillion…