Joshua Rauh: The Looming Pension Crisis

Joshua Rauh predicts a national crisis in public sector pensions within the next decade that will leave state and local governments bankrupt and taxpayers on the hook for trillions of dollars. He is a professor of finance at the Stanford Graduate School of Business.

What's wrong with the way that state and local governments budget for employee pensions? 0:06
What happens if public sector pension funds don't achieve targeted returns? 0:52
How would a public sector pension crisis impact our financial markets? 1:49
Why should the business community be concerned about a pension crisis? 2:43