Lost in the hysteria surrounding the trade of Donovan McNabb on Monday was only the most important story in Pennsylvania.
No, not whether or not Kevin Kolb is up to the task as the Eagles starting QB. And not who will close for the Phillies. Hey, with Roy Halladay on the mound and the Phils offense pounding out 11 runs, who needs a closer?
I refer instead to another ticking time bomb.
That would be the two big public employee pension funds in Pennsylvania.
If you missed Alex Rose’s report, click here to check it out. Go over the numbers carefully. They are daunting.
Basically the two pension plans have been underfunded for years. Coupled with the steep declines in the market over the past few years, the funds now are in danger of not being able to pay out the expected demand.
There are a couple of solutions, none of them especially pretty, all of them painful.
Every resident of Pennsylvania should get familiar with this issue, and the very real financial impact it will have on every state resident.
Tick, tick, tick …. It is getting louder. And it’s about to explode.
And it very well could be a financial disaster.
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