Commentary: States' retirement liability may deter private investment

04/30/2012 | Wall Street Journal, The

Growing costs for state-employee pensions and retiree health care could be a threat to the future of states such as Illinois and California, writes Steven Malanga, a senior fellow at the Manhattan Institute. Companies are leery of investing in states with such budget uncertainties and with possible tax increases needed to deal with escalating liabilities related to public-employee retirement, he writes.

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