Sriram Khé, blogging since 2001 ...........
............ And back again since June 2008
Friday, November 12, 2010
Party like there is no deficit!
The topic is pensions as one hell of a liability issue is not new to this blog. So, the following serves as an addition to the collection:
Today there is an almost $500 billion shortfall for funding teacher pensions, and that gap is growing. Why should you care? Because ultimately taxpayers are on the hook for that money. But the problem doesn't just end there.
One would think that these and the other kind of future obligations will force us to worry, and do something, about the growing deficit and debt issues. The preliminary thoughts from the "bipartisan" commission has already been declared dead on arrival. It is kind of an irony in that the opposition is absolutely bipartisan--commentators of every stripe seem to be opposed to it.