Envision, if you will, rioting octogenarians, phalanxes of retired teachers, government office managers and firefighters protesting the sudden cessation of payments from their pension funds.

Imagine some way that American states are going to overcome the apparently one trillion dollar gap in state pension funds while simultaneously dealing with an economy so clearly in transition.

Pause with me, as I add a little extra whisky to the morning coffee. That’s trillion with a T.

The Pew Center for the States sure had a headline for us all today with that report, especially speaking as we are about fiscal “challenges” that are popping up, threatening to return Greece to an olive-based economy, put Spain back in the Conquistador business, and convince us to give California back to Mexico if they agree to keep making the lease payments.