Sunday, March 16, 2003

Pension logic. The Globe today editorializes against Governor Mitt Romney's proposal to shift state pensions from guaranteed income to 401(k) contributory plans like most people in the private sector have.

There's a kernel of logic here, as when the Globe argues that good pension benefits can be a lure that helps to offset the low salaries that teachers (to name one example) make.

But essentially, the Globe is calling on taxpayers to keep funding an extraordinarily sweet benefit for public employees that they themselves do not enjoy. "A Risky Pension Plan" is the headline on the editorial. I think most people's response will be, "Welcome to our world."

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