The Empire Center for New York State Policy is warning that the state’s local governments face an unfunded liability of nearly $250 billion for future health costs of government retirees in New York. The report, released last week, finds that current and future public retiree health insurance costs will cost the state and its local governments $250 billion.

This is a ticking fiscal time bomb that, if left unaddressed, will drag down our economy.  We need our elected officials – at all levels of government – to make sure that the promises they make to their employees and retirees are promises that taxpayers can afford.