The global financial crisis left state finances worldwide in ruins. In the U.S., federal budget deficits averaging more than $1 trillion annually are forecast through 2020. This will force difficult decisions. On May 3, 2010, Horacio Valeiras, CFA, Chief Investment Officer, outlined his thoughts on the "Burden of Debt" at the National Conference on Public Employee Retirement Systems. The below presentation stress tests America's fiscal health, reviews likely policy outcomes and charts steps that pension administrators can take today to protect their plans.
> The Burden of Debt
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