State and local pensions plans are on a path to failure. - washingtonpost.com
"THE RECENT history of pension plans for state and local government employees can be summarized as 'promise now, pay later.'
Eager to attract good workers -- or to placate unionized ones -- elected officials often contracted for generous retirement benefits, including health benefits, without increasing taxes to pay for them."
When the WaPo calls it "a path to failure", in an editorial no less, what is waiting at the end of this path must be mighty frightening.
Imagine how many of their SEIU and federal unionistas they are upsetting!
"THE RECENT history of pension plans for state and local government employees can be summarized as 'promise now, pay later.'
Eager to attract good workers -- or to placate unionized ones -- elected officials often contracted for generous retirement benefits, including health benefits, without increasing taxes to pay for them."
When the WaPo calls it "a path to failure", in an editorial no less, what is waiting at the end of this path must be mighty frightening.
Imagine how many of their SEIU and federal unionistas they are upsetting!
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