What's In Your Future? Part 2
General Motors today announced they will be laying off up to 23% of its work force and shutting down factories in North America. Part of the big problems facing GM, and many other companies is underfunded pension liabilities that are coming due. Rising health care costs, for current and retired workers is frequently mentioned as a key structural problem.
This article in Business Week shows the cost to state and municiple governments for health care and pension plans.