The question we are going to have to answer in Kentucky is when our public defined-benefit pension plans become like Australian rules football on ESPN 12. The prospect of massive taxpayer losses have been too easy to overlook until now.
As part of a CNN Money article about how private defined-benefit plans should all be gone soon, there is this detail about why these taxpayer time bombs have hung on longer:
Pretty soon, more people may come to think of paying for public employee benefits that are unavailable in the real world as akin to sitting around watching Australian rules football on ESPN 12.
