Government Employee Pensions Are Underfunded. Taxes Will Make Up the Difference \ stacker news ~econ

Government Employee Pensions Are Underfunded. Taxes Will Make Up the Difference

1761 sats \ 6 comments \ @Undisciplined 22 Jan econ

This is just one component of the US Federal Government's hundreds of trillions of dollars in unfunded liabilities. "Gradually then suddenly" comes to mind.

Government Employee Pensions Are Underfunded. Taxpayers Will Make Up the Difference By Doug French

Government employees generally have sweeter pension plans compared to private-sector employees, but government pensions are purposely underfunded. No worries for government employees: taxpayers will pick up the slack.

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53 sats \ 0 replies \ @siggy47 22 Jan

Warms my heart

28 sats \ 1 reply \ @OriginalSize 22 Jan

Taxes or Taxpayers? I think the latter but mainly through currency debasement. Controversial I know 🌽🍿

144 sats \ 0 replies \ @Undisciplined OP 22 Jan

I was at the title character limit and "taxpayers" to "taxes" seemed like the nearest approximation to the original title.

You're right that it will primarily be through debasement. Of course, we can square this circle by thinking of debasement as a tax.

531 sats \ 2 replies \ @shado_op 22 Jan

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100 sats \ 1 reply \ @Undisciplined OP 22 Jan

When you think about the incentives at play, there's just no chance that they would have implemented a responsible defined benefit scheme.

They get credit with the labor leaders for having generous pensions, plus they get less grief from employees, and publicly they just make up some bullshit about how the numbers will work out decades down the road when they will have long since retired.

531 sats \ 0 replies \ @shado_op 22 Jan

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