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Phoenix drowning in pension debt, drastic response proposed

FEBRUARY 6, 2019 | by Julia Limitone | FOX BUSINESS

Phoenix is facing a huge pension crisis and drastic measures are being considered to deal with it. One lawmaker wants the city to stop spending any money until it gets its pension debt under control. … The United States currently has more than $200 trillion in unfunded pension debt, and DiCiccio says, “There’s no real plan to pay for it.” That is why he teamed with former Utah Republican Rep. Jason Chaffetz on a model that they think will also get the national debt under control.

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