Will Pensions Cause People To Flee?
Steven Greenhut: Here is a good analysis in the LA Business Journal from CalWatchdog contributor Wayne Lusvardi:
A new trend may be soon emerging called “red flight” to describe the rapid mass out-migration of residents from cities and counties that are insolvent due to inability to meet public employee pension obligations (i.e., cities that are “in the red”). Unlike the term “white flight,” this flight may span across ethnic or political colors.
A new study released by Northwestern University’s Kellogg School of Management forecasts that there may be future population flight from many of California’s large cities due to their inability to meet mounting public employee pension obligations.
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