Don't blame teachers and cops who pull down fat retirement checks for huge and growing unfunded...
Don't blame teachers and cops who pull down fat retirement checks for huge and growing unfunded pension liabilities; blame the political process that encourages governments to defer and understate costs, Ed Glaeser says. We need a compensation system "where costs are obvious and where governments pay... at the time the work is done." Otherwise, the whole country could wind up like New York or California.
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