Indiana’s looming problem
My friend Paul Musgrave offers an interesting post on a growing problem in Hoosier government.
A while ago, I noted that the Government Accounting Standards Board had proposed new rule changes that will leave many governments with billions more in liabilities than had previously been disclosed. Howey notes that Indiana State Auditor Connie Nass wants to do a study of how much Indiana’s guarantee of lifetime health care for its state legislators will cost. It could be as much as a billion dollars. (!)
What’s more interesting to me, however, is that if the cost just for Indiana’s legislators is that high (we’re talking about apparently several million dollars per legislator!), what does that mean for all the other state employees who are soon to be retired?
Doug Masson has more thoughts on it all and the new accounting rule.
