BobS
State and local politicians have an implicit incentive to grant unions’ demands for generous pensions and understate the costs to today’s taxpayers. The result is to spare them the wrath of those unions and their politically invested members, while hiding the growing underfunded future liability from the taxpayers. The amounts involved are breathtaking, and they will weigh heavily on our future. San Diego’s city council, including most current members, are guilty of this abomination.
