Wednesday, June 25, 2008

Nothing going on here, move on (and go broke!)

I appreciate that the mainstream media wants to better serve its readers through the blogosphere, but this (and this and this) is not the way to do it:

In a time of economic difficulty, the pension scam is a story begging to be told well. Sure, most people's eyes glaze over when you start talking about paying billions of dollars or running out of money in some accounts sometime in the next two decades. But people struggling to meet rising costs in their own lives will certainly understand paying way above market rates with their own tax dollars so government employees can have gold-plated fringe benefits for life.

And the real story is that Frankfort has misappropriated the money we have been sending to them for several years, so they are passing a bill this week to suggest that they do less misappropriating and we do more sending through 2025. That is just a "suggestion" because the state constitution forbids passing a law to obligate future General Assemblies, but the failure to cut overspending on benefits will obligate (and overextend) taxpayers for many years to come nonetheless.

There is more here.