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Public Employees' Pensions Are Budgetary Black Hole
The Times-Picayune Link to more items from this source
Apr. 23, 2014
"If anyone still believed public employee pensions weren't a budgetary cancer, then the court defeat New Orleans suffered last week with its firefighters' plan should convince them. Defined benefit plans are a menace.... The argument is not that public employees don't deserve a pension as much as the next guy. The economics, however, dictate theirs cannot be a generous package paid almost entirely with other peoples' money. What's more, it makes no sense to say public employees must have a cushion against market shocks not available to the general public."

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