Searching for Steelworkers
But on pensions. I really can't believe the timing of this. Here is a great commentary in the NJ Star Ledger just from yesterday. See: Rules By and For Insiders - Public Pension Plans
There is a great paragraph in there that sums up the machinations here perfectly. This is what the reporter summarized as government's view toward pension liability problems:
Don't change a thing. Our clients (politicians) don't want to pay any more than they have to while keeping benefits in place and accruing more as they manipulate their budgets. Allow us to keep believing that these plans can never go bankrupt and that future taxpayers will have a lot more money and inclination to fund these plans than current ones have.I would laugh if it didn't make me cry. As much as I like all of the intrepid reporters covering this beat here in town, I don't think anyone would quite put the story the same way. Yet is it any different here. The full piece is a must read for anyone following this these days.