[lbo-talk] More Times fearmongering

[Chris Maisano]

The Times continues to soften up public opinion for an austerity program: http://www.nytimes.com/2010/03/30/business/economy/30states.html?pagewanted=1&hp.
 
The states certainly have their share of serious fiscal problems. But I don't see why states would have to account for pensions in the same way that they have to account for bonds.