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Taxpayer Problem: GM’s $12.3B of Unfunded Pensions

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According to a report by the Government Accountability Office, GM will need to add $12.3 billion into its pension fund by 2014. To make matters worse, if GM terminates their pensions, the Pension Benefit Guaranty Corporation – funded by taxpayers - would then become responsible for as much as $14.5 billion in unfunded liabilities.

In the video: Aaron points out, this could enrage taxpayers fed up with paying for government worker benefits at a time when the average government employee is making more than private sector workers and receives better benefits.

WATCH:

Taxpayer Problem: GM's $12.3B of Unfunded Pensions, 3.5 out of 5 based on 3 ratings
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