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What sinkhole states don’t want you to know

NOVEMBER 27, 2018 | by Fergus Hodgson | GOLD NEWSLETTER

“US states have amassed at least $1.5 trillion in unfunded liabilities in 2017, even though 49 of them have some form of balanced-budget restriction. Bill Bergman attempts to answer this puzzle. …  Bergman explains that state governments get away with spending and promising beyond their means due to accounting tricks and regulatory capture by lobbying groups.”

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