One reason why most state budgets are out of control is attributed to union-contracted, public employees pensions.
These unions continue to feel optimistic about the ability of their pensions to accommodate their coming obligations by earning more on their investments than they did in the past.
Unions find it easy to be optimistic about future returns on investments, far much higher than what market observers consider possible, in the light of our budget deficits and their effects on investment markets. And also prospective future inflation. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
No comments:
Post a Comment