The Looming Financial Crisis — Public Sector Pensions

Whether it is pensions for state workers, teachers or legislators, the financial promises made by politicians have put taxpayers on the hook. How much? Well, don’t ask the people who should know.

Go back and read the Pittsburgh Tribune-Review article in which Rendell’s Budget Secretary Mike Masch says, “… government will be the last provider of retiree pensions and health care to cut back to terminate those benefits.” And he makes this declaration despite his admission that he has no idea how high the taxpayers’ liability is for these promises to government employees.

ANYONE in the private sector would be fired immediately for such negligence in managing future costs.

Finally, some newspapers are picking this up. Read today’s Patriot-News editorial.