>It seems to me that pensions are one thing governments can do a good job at, because companies may fail but the government is much less likely to be unable to

>It seems to me that pensions are one thing governments can do a good job at, because companies may fail but the government is much less likely to be unable to pay retirement benefits. Illinois and New Jersey beg to differ. Granted checks haven't bounced yet but it's pretty clear weird stuff is gonna happen and either pensioners or taxpayers will get screwed bad.