This is pure sophistry.
And this is why there needs to be some focus on total compensation (and how its 2x private sector jobs), because public union workers are financially pampered from hire date to grave, and then some.
When I first saw the headline I thought it was another chain e-mail someone saw.
Worse than that... It's sophomoric sophistry!!!
Fanny and Freddie were only there to "guarantee" mortgages with the full faith and credit of the US government. State and local governments can't even print the money to guarantee a defined pension benefit. The ONLY thing they can do is levy more taxes to cover any shortfall!!!