New Orleans Unfunded Pensions exceeds 40%

Before the Corona Virus, New Orleans City Employee Pensions were funded at only 55% or about $200 million short of needed funds. Nancy Pelosi’s state is short about $200 Billion to pay for retirement costs. Thus she favors using this opportunity to have the FEDS bail CA out.

“You raised yourself the important issue of what states have done, many of them have done to themselves with their pension programs,” Mitch McConnell said. “There’s not going to be any desire on the Republican side to bail out state pensions by borrowing money from future generations.”