Unfunded liabilities and unfunded mandates are completely different things. One is a political science term relating to federal imposition of legal responsibilities on states regardless of budget constraints and with no federal funds. The other is a finance term to a amount, at any given time, by which future payment obligations exceed the present value of funds available to pay them.
I recommend you research unfunded liabilities- because it actually gives accurate debt pictures rather than the garbage that institutions like CALPERS reports.
Should probably ask Mr. Kierney. I guess if you're Italian, you should be in prison.
I've read the RICO Act, and I can tell you it's more appropriate...
for some of those guys over in Washington than it is for me or any of my fellas here
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