Public-Employee Pensions Are Not the Only Problem

The current frustration over public-employee pensions is understandable. During the past several decades, private companies have stopped providing pensions for their workers, replacing them with 401k-style retirement plans, or nothing at all. And so it’s no surprise that private-sector employees, who represent the majority of the electorate, are now unhappy that their public-employee brethren receive guaranteed pensions when they do not.

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