Publisher’s note: This editorial is from the July 21, 2017, Las Vegas Review Journal.
Government union chiefs often blame the nation’s looming public pension crisis on the failure of politicians to properly fund the benefits. A study, however, reveals that a major problem is the tendency of elected officials to offer more and more goodies courtesy of the taxpayers.
The analysis, by Illinois-based Wirepoints, looked at state pension data from 2003-2016 and found it is “the uncontrolled growth in pension promises that’s actually wreaking havoc.” The growth in “accrued liabilities has been extreme in many states, often growing two to three times faster than the pace of their economies,” Wirepoints concluded. “It’s no wonder taxpayer contributions haven’t been able to keep up.”
Nevada finished high on the list of problem states.