without economic growth, pensions are unsustainable. You can only tax the ‘rich’ so much.
Here in NJ all the young people want a government job (most real private-sector jobs are gone) and all the older people and companies want to leave the state to avoid being saddled with the resulting bills. Governments at all levels are spending as though we have a 1950s economy when the reality is our economy has shrunk considerably (and will continue to do so).