Categories:
Politics and Economics
Public Choice Theory
The Examiner reports,
State teacher pension payments will grow 10 percent annually and its benefits contributions will grow 8 percent annually, while General Fund revenues — responsible for all teacher pensions and 60 percent of benefits — will increase only 5 percent each year through 2015, according to Warren Deschenaux, the state’s chief budget analyst.
What it means to be a blue state these days is that the public sector unions are politically dominant. They do not care about the future of their states. They only care about member benefits.
READER COMMENTS
Jack
Nov 15 2010 at 11:03am
Dr. Kling,
If nothing else, the pension implications of the financial crisis should be (or ought to be) a killing blow for pay-go plans. It is fundamentally foolish to promise high risk-free returns paid for using risky returns. If pay-go plans are to remain, they need a reality check.
But I suppose this is pretty obvious to the readers of this blog.
Foobarista
Nov 15 2010 at 1:35pm
The Democratic Party: raising tomorrow’s taxes to pay for yesterday’s government.
ERIC
Nov 15 2010 at 2:41pm
What is needed to change the current state of affairs?
Who has got the power and will to make a change?
Comments are closed.