Origins of the Public Employee Pension “Crisis”

What's an "unfunded pension liability"? As part of the efforts of conservatives who are desperate to cut government spending (particularly on any kind of employee or social benefit spending), we are being treated to an unending drumbeat of "unfunded pension liabilities" are killing state and local government budgets.  Since it's all couched in accountant-type talk … Continue reading Origins of the Public Employee Pension “Crisis”

Poorer Boomer Retirees: Macro Implications of Proposed Pension and SS Benefit Cuts

In many political circles this year, a mantra has emerged:  we cannot afford the public sector pension plans and we cannot afford Social Security - we must cut the future benefits. For example, George Biggs of the conservative, right-wing think tank American Enterprise Institute argues that even though public sector workers receive lower pay than … Continue reading Poorer Boomer Retirees: Macro Implications of Proposed Pension and SS Benefit Cuts