-By Warner Todd Huston
A few weeks ago I wrote that unions have driven every state budget into a hole from which it isn’t likely the states can easily dig themselves out. I did not at that time reference the Pew report on the pensions mess and I want to revisit it here.
On April 5, I said, “The worst mess that states are in is because government unions have been handed luxurious and unsustainable pensions and healthcare plans by those very Democrat politicians that unions have paid off to do so. Again all at the expense of the suffering taxpayers.” The Pew report shores this up thoroughly.
In fact, the Pew report from early April 2010 even understates the problem, not because of any bias but because the stats that they used were taken from stats assembled in 2008 because that was the last year where full records had been compiled. Further, we must remember that these stats also came before the market crash ushered in during the age of Obama.
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The Democrat Caused Pension Bomb About to Destroy Our States”