When Social Security looks fiscally responsible

Pittsburgh Tribune-Review Editorial on the coming pension crisis.

What continues to amaze us is the feedback from un-informed and mis-informed union members who are saying that we (the Commonwealth Foundation) have somehow manufactured this crisis. Their unions (AFL-CIO, AFSCME, SEIU, PSEA, etc.) are intentionally misleading their members about the true state of their under-funded pension plans.

The unions may have a point, however. They have been milking the taxpayers as cash cows for decades — without much trouble from Harrisburg. So the chances that they’ll get away with it again are pretty good.