Don't blame teachers and cops who pull down fat retirement checks for huge and growing unfunded...

|By:, SA News Editor

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.