20 December 2010

Samuelson - Cheating Our Children (Again)

It is cheating with the passive connivance of the cheatees. Actions like bailing out the states & cities, the sanctity of social insecurity, etc, poll as being very popular among the young (18-35).
that said, there's no excuse, baby boomers
What states and localities can do about this is limited. Pension promises to existing employees are probably legally inviolate. Retiree health benefits are apparently less so and should be reduced or eliminated to limit incentives for early retirement. Even if politicians manage this arduous feat, past decisions will burden the future. Along with an unwillingness to curb Social Security and Medicare costs, America's leaders have created another way to cheat their children.
RealClearPolitics - Cheating Our Children (Again)

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