Pensions like other forms of debt indeed one of the great political frauds in any system of government that allows them.
A fraud because the politicians who promise them get all the political benefits of spending the money of future yet to vote or be elected generations who are then somehow obligated to bare the burden.
There is nothing fair or just about such a scheme, and if you ask me it is apparent that Thomas Jefferson was right in that no generation has the right to incur more debt than they can pay in their lifetime. That as much includes so called “pensions” as it includes any other type of debt.
Brilliantly articulated. You said in two sentences what I have been trying to formulate in my head while arguing with friends why public unions should be outlawed. If you don’t mind I am going to used your words in the future.