Apparently, a court has blocked release of individual data on pension recipients in NY, severely limiting the public's ability to understand the scope of how upside down the system is. In recent years, pension spiking stories have helped increase scrutiny of the system which relies on ever increasing assessments on current taxpayers to pay for pension commitments in the past.
The Times opines for more transparency which is fine. I might add another problem is we live in a society where Washington can routinely spend more than it takes in, with no apparent ill effects. The public no longer sees a downside in spending beyond one's means because we have all collectively done it for years.
That is why whenever someone criticises the system, defenders say "I paid into that" and deserve what I get....when in fact the average person doesn't pay in, an amount anywhere near what is drawn out, whether its a pension or Social Security.
That doesn't mean they are not "entitled" to the payments by law, but it does mean a lack of math skills has left a whole society ill equipped to understand why what we routinely do is wrong.
Watertown Daily Times | Pension data
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