Any state that won’t deal with these growing liabilities is simply warning off potential taxpayers (individual AND corporate); the debt won’t go away, and kicking the can down the road simply detracts from your property values (who wants to buy a share in that misery?) and your current earnings (they will pay the retirees regularly, with someone’s money).
“”Clearly, the abuses we’ve seen — the 1 percent of people playing the system, the top managers, we’d like to see rectified,” said Low, a lobbyist for the California School Employee Association.
But Low said pension reform is “just not that urgent. It’s not that salient an issue for voters. If we address these outrageous cases, most voters will be like, ‘OK, you did take care of pensions.’ “
Yeah, right Low! Just wait another year or two and you will see that “you didn’t take care of pensions,” and you and your PE union buddies are out in the street!