3 ms·

My one-sentence view of what is going to happen in America is that "repudiation is coming" - on multiple levels, people, organizations, maybe even states will s

• patio11 17y ago
  Or, less extreme, changing the terms of the promise after the promise is made. Very few pension funds are so comprehensively mismanaged that they will not be able to pay any pensions, but very few are so competently managed that they will be able to pay all promised pensions, so look for them to do things like means testing to get out of their obligations. ("You spent the last forty years saving money by yourself!? Pfft, what do you need a pension for. Amscray, we've got people who actually need the money to look out for.") This is inevitable for social security, and I'm thinking the gold-plated public pensions (and many private ones) will follow suit.
• adolph 17y ago
  Case in point: "But even if the decision does leave some Arizona children without health-care coverage, Orient said, there is no alternative in the state's current financial situation. 'At a certain point, it doesn't matter how good you think a program is,' she said. 'If you can't pay for it, what are you going to do?'" http://www.azcentral.com/arizonarepublic/news/articles/2010/03/20/20100320arizona-kids-lose-health-coverage.html http://www.azcentral.com/arizonarepublic/news/articles/2010/...