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Cooper budget uses excessive debt

MARCH 13, 2019 | by John Hood | THE ROBESONIAN (NORTH CAROLINA)

More importantly, North Carolina has already been evading its balanced-budget rule for decades by promising pension and retiree-health benefits to public employees without setting aside enough money to cover the cost. We should have tightened the rule to stop that, by requiring accrual rather than cash accounting. But we didn’t — and now we have tens of billions of dollars in unfunded liabilities.

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