Friday, December 24, 2010

How's the view from there?...


I've penned more than one article about the unsustainability of government pension programs. Recently we heard that Prichard, Alabama had become the first city in the United States to default on its pension plan for retired city workers.

A lot of people preferred to stick their heads in the sand and pretend that this would never happen. But it did happen, and it's going to happen again.

We have the option of taking the hard stand and weaning people away from unkeepable promises and unmanageable programs, of fully funding and protecting peoples' retirement accounts, or better yet, allowing people to handle their own retirement.

Or we can keep doing what we've been doing.

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