The state's pension system has $60 billion in liabilities. According to Mr. Bevin, the new bill only raises $300 million over the next 20 years, which isn't nearly enough.
Pension funding levels for the three states are among the lowest in the nation. Each of the states’ combined pension plans are funded at 60 percent or less, according to Bloomberg Law analysis of information collected by pension research group Public Plans Data. With hundreds of employees’ retirements in jeopardy, the insolvency is likely to become a hot-button issue in the states’ already contested gubernatorial elections—especially in Illinois,
The ruble depreciated 3.5 percent to 62.75 versus the dollar, taking its decline this week to 7.2 percent.
Global debt rose to a record $237 trillion in the fourth quarter of 2017, more than $70 trillion higher from a decade earlier, according to an analysis by the Institute of International Finance.
Spending will exceed revenue by $804 billion in the fiscal year through September, jumping from a projected $563 billion shortfall forecast in June, the non-partisan arm of Congress said in a report Monday. In fiscal 2019, the deficit will reach $981 billion, compared with an earlier projection of $689 billion.
The central bank data, which cover payments of sovereign debt only and exclude obligations by PDVSA and other state entities, show that just $83m was paid in October, compared with sovereign obligations amounting to $465m, according to data from Caracas Capital.
Russia is even more important geopolitically than these favorable metrics suggest. Russia and the U.S. are likely to improve relations and move closer together despite the current animosity over election meddling and the attempted murders of ex-Russian spies.
The reason for this coming thaw has to do with the dynamics of global geopolitics. There are only three countries in the world that are rightly regarded as primary powers — the U.S., Russia and China. These three are the only superpowers.
Oil Prices Likely To Soar On Geopolitical Risk (Michael S.)
As such, fears of a trade war have once again declined, although given the impulsive decision-making by the White House, that could obviously change at any moment. “It's not so much 'risk on/risk off', as it is 'trade war on/trade war off' and, at the moment, we're 'trade-war off',” Jasper Lawler of London Capital Group, told Reuters.
Gold & Silver
Provided daily by the Peak Prosperity Gold & Silver Group
Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."