UH OH: Underfunded Public Pensions as “Stranded” Costs? Two Trillion Dollars? “One question about these obligations is whether taxpayers will stick around to pay them, or instead will vote with their feet. . . . Many of these pension obligations have been incurred by municipalities and others by states, and in some cases the obligations are intertwined. But what happens if voters-taxpayers move out? The assumption has long been that taxpayers are stuck, on account of jobs and other circumstance. But query whether that is necessarily true as the baby boom generation retires.”
This is exactly why politicians bought by unions and public sector employees are attempting to nationalize obligations like healthcare as well as industries unions have killed (automobile initially).
Once nationalized, we won’t be able to run from stupid overly generous under funded post employment obligations.
Do not confuse Democrats with idealists. Sure there are socialists amidst them, but at the core they are bought and sold corrupt politicians eager to please their union and public sector masters.