Report: Texas has $81 billion in hidden debt

Report: Texas has $81 billion in hidden debt

WHAT’S HIDING UNDER THE ROTUNDA? At least $81 billion in pension debt incurred by the state, according to some estimates.

Texas has $81 billion in hidden debt that doesn’t show up on balance sheets, according to a new study by Truth in Accounting.

This means Texas is $62.6 billion short of the money it needs to pay its long-term bills, which the group calculates as equal to $8,300 per taxpayer.

These figures do not include the $333 billion in bond debt run up by local government agencies, particularly school districts.

When it comes to calculating unfunded liabilities, a few changes in assumptions can produce wildly different figures, so we took a closer look at ……… read more here

By Jon Cassidy

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