Back to Wisconsin and the plight of the unions and their Governor. Here's an interesting graph that shows that the tremendous pension obligation shortfalls are a direct result of the economic cataclysm of the past several years.* In effect, the states' investments with their pensions funds goes tits up and their employees get to suffer as a result of the malfeasance and fraud of those who caused the housing market collapse (who we bailed out, BTW). Maybe the big, bailed-out Wall Street firms should kick in a trillion or so to bail out the mess they helped create now that they're solvent and insanely profitable again.
*
http://www.cepr.net/documents/public...ns-2011-02.pdf