PolicyGuy

Friday, September 15, 2006


Pension Problems: This Post is for You, John.
I recently talked with someone who said he appreciated my comments on the looming crisis in public pensions.

Certainly it is a problem that we don't see addressed too often. Government goes off getting involved in more and more areas of life and the economy, and doesn't even do a good job sticking to its knitting--in this case, running the pension programs of its employees in a rational fashion. Blame the pleasure-seeking of politicians: they want to minimize the pain inflicted on taxpayers, and they want to maximize the pleasure enjoyed by public sector employees. The end result: under-funded programs that promise more than they can (or should) deliver.

So for the reader, John, here are two more stories on the topic, one from Baltimore, and another one that takes a look at the national picture.

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"Justice Louis D. Brandeis'?s metaphor of the states as "laboratories" for policy experiments ... had almost nothing to do with federalism and everything to do with his commitment to scientific socialism. .... To this day, it continues to inhibit a truly experimental, federalist politics." -- Michael S. Greve

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