It's Inevitable: US is Going to be Greece

Structural financial problems at the state and local government level are inevitable, and have been for some time. Forget all the old arguments about the size of government or the appropriate level of taxes. There now are obvious structural problems that must be addressed, and are not matters of political preference. Local governments face similar problems as state governments do with unfunded pension obligations.

This can cannot be "kicked down the road."

Kellogg Management School analysis of State pension obligations