Originally Posted by
nain rouge
Please, it didn't take a genius to see how untenable those pensions were. We just chose to ignore the predicament because we know we could kick that can down the line for decades. I don't believe most pension plans were designed in good conscience - it was a calculated money grab. I mean, who wouldn't try to secure as much money as possible for themselves? You've got to look out for #1.
Those pensioners in Florida and Arizona knew they could never afford to make such a move unless they gamed the system. Most of them are getting checks as retirees that most younger people in the city and declining suburbs would consider big money. It's insane.