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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.


#375: Promises, Promises

May 30th, 2012

Episode 481 of 902 episodes

States across the country have promised their employees sweet retirement benefits, but haven't set aside enough money to pay for those benefits.On today's show, we hear from Illinois, which owes its state pension funds $83 billion.And we hear from the Commonwealth of the Northern Mariana Islands, a U.S. territory halfway around the world. The territory may point to the future for many U.S. states: It just became the first American public pension fund to file for bankruptcy.

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