Public Pensions Headed for Disaster - Business - The Atlantic

Again, things like this should be so obvious.  Just as it’s a bad idea for the many states to “borrow” from the Fed to pay unemployment benefits.  It’s like the money just magically appears.  Or that, eventually, the financial system doesn’t have to correct itself. 

 

Public Pensions Headed for Disaster - Business - The Atlantic

May 21 2010, 2:25 PM ET |

The New York Times has a practically libertarian-sounding article on public pensions, and the strain they are putting on the state and local governments.  Public employees rack up overtime in their last year of work, with the active encouragement of their supervisors and even local politicians, then they retire with inflated pensions that can be greater than their base salary.