Sunday, March 23, 2014

The Detroit pathology

Here's Jeff Jacoby in the Boston Globe: "Public pensions are eating taxpayers alive."  "Around the country governments are facing a tidal wave of pension obligations that they haven’t figured out how to pay for. By some estimates, the states’ long-term unfunded pension liabilities add up to more than $4 trillion. There is no way to meet such a staggering financial burden without sacrificing more and more of the basic services — public safety, education, roads, and infrastructure — that governments are formed to provide."

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