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Makes sense. The way local governments deal with things like pensions is truly horrifying. Even the simplest analysis would quickly show that they are setting t
by maxxxxx 8y ago
Makes sense. The way local governments deal with things like pensions is truly horrifying. Even the simplest analysis would quickly show that they are setting themselves up for disaster.
- arethuza 8y agoIf it is that easy to predict then it is probably career suicide to be the person who produces the analysis that proves a disaster is going to happen.
- logfromblammo 8y ago"We could add more money to the pension fund. Or we could assume a 10% market rate of return forever, and spend that money on new office chairs and computers instead. We can't get a tax increase just for those, but we could for the prospect of homeless old people eating cat food, and the next guy will get blamed for it." They're actually setting other people up for disaster, hoping that they will already be gone when it hits.