What’ll happen here...probably in 2020, there will be enough anger within the public to force a law change that towns can declare a bankruptcy, and then the pension episode will collapse. The pension will end notifying the holder that he lost 60-odd percent of his pension.
I know it’ll anger some folks to wake up and see $30,000 a year gone from their pension...but they were led around in a fraudulent way by the state and politicians.
“I know it’ll anger some folks to wake up and see $30,000 a year gone from their pension...but they were led around in a fraudulent way by the state and politicians.”
Cause and Effect in action. I guess I’m not sympathetic to the public employees everywhere, because they mistakenly thought that economics would never affect them. They thought that their unions could continue to fund corrupt DemoRAT politicians who would assure them of an unmolested retirement income. And that their backstop would be corrupt RAT judges who would say that the ability of government to pay the pensions would be no excuse for not doing so. They were unable to grasp the concept that “other people’s money” is really a fallacy.