[HarleyD]

All defined benefit pensions should be outlawed. This type of pension "banks" on the solvency of the entity 20-30 yrs in the future. The only type of pensions that should be allowed are 401K's, or in the case of govt 403B's.

I agree for the most part but it won't stop the government from spending money it doesn't have. In 20-30 years the government would be eying those 401K plans (as they're doing now). The only thing that will stop the federal government is a balance budget amendment.

[wmfights]

I agree for the most part but it won't stop the government from spending money it doesn't have.

The states are the canaries in the mines so to speak. They are feeling the squeeze because unlike the fed govt they can't print money. The fed is going to end up in the same spot because they can't monetize the debt with entitlements tied to inflation.

The only thing that will stop the federal government is a balance budget amendment.

I agree!