Underfunded Public Pensions

Underfunded Public Pensions:

Are you fully satisfied with the quality of public education in our country today? Soon, it'll get worse!

Although it is generally acknowledged that education is the foundation of every modern society’s future prosperity, schools unfortunately will have to compete with retirees for scarce dollars. This competition is uneven, because retirees have a legal claim on promised pension benefits that supersedes schools’ budgetary needs. Consequently, Americans can look forward to higher taxes and cuts in services, resulting in fewer teachers, bigger classes, and facilities that are allowed to deteriorate. In several states, these developments have already arrived.
So: we'll soon be paying $933 billion dollars more for retirees not to teach, at the expense of hiring and funding paying active teachers.

That's no problem, though, because there's an infinite supply of money in the world. Stuff grows on trees.

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