60 Minutes ran an alarming, short segment last night about states which are broke and which can no longer meet their promises.
One state, Arizona, has sold off the State Capitol building (along with several other buildings) to investors. Arizona then leases back the buildings.
Insolvent states are one of the biggest near-future cataclysms facing US taxpayers which gets little notice. As Governor Christie of New Jersey states, government workers employed by states and municipalities have got to realize their pensions are at risk, that if they don't sit down and try to renegotiate their pension deals, they might all wake up ten years from now without any pensions at all.
If you think the USA is well on the road to recovery, take a few minutes out of your busy day to watch this short segment from last night's 60 Minutes:
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