The U.S. public pension gap has tripled to at least $2 trillion in less than a decade, Moody’s Investors Service said in a report on Thursday.
Moody’s measured the unfunded liabilities for the 25 biggest public retirement systems between 2004 and 2012. The total future shortfall is more than half the size of the $3.7 trillion municipal bond market, which comprises all the outstanding debt issued by U.S. states and cities.
The gap has widened in spite of the fact that average investment returns over about the same period were 7.45 percent, roughly in line with targets, according to the Wall Street credit rating agency.
Confirmation that the first case of Ebola has arrived in the United States will prompt questions as to whether the CDC will enact emergency procedures that could see even healthy Americans detained against their will.
The Centers for Disease Control confirmed today that an Ebola victim was admitted to the Texas Health Presbyterian Hospital in Dallas. Reference to the patient’s “recent travel history” suggests that the victim arrived from one of the African countries hit by the virus.
The patient has been held in “strict isolation” and the hospital is “complying with all recommendations from the Centers for Disease Control and the Texas Department of Health to ensure the safety of other patients and medical staff,” according to WFAA.
In an understandable effort to prevent hysteria, the CDC has been reticent to release too many details about its preparations for a potential Ebola outbreak inside the United States, although plans currently on the record allow for the quarantine of “well persons” as well as those who “do not show symptoms” of the virus.