US The next dose of pain for US state and local governments, which are struggling to balance their budgets in the wake of a national recession, could come from rising costs for the pensions of teachers, firefighters and sanitation workers across the country.
On Thursday, Moody’s Investors Service released a report that said a broad deterioration in funding levels for public sector pensions is adding to the fiscal pressure on state and local governments and it could contribute to credit ratings downgrades in the next several years.
