July 31, 2012

WALTER RUSSELL MEAD: Pension Tsunami Now Rolling over Police, Firefighters.

Once considered sacrosanct, the pensions of cops and firefighters are increasingly coming under the budget knife, says Reuters.

Even in the recent showdown in Wisconsin, Governor Scott Walker was careful not to extend the curbing of collective bargaining rights to police and firefighters. But now dire fiscal straits across the country are threatening even the pensions of public servants who put themselves in harm’s way.

From San Diego, San Jose, and Stockton to St. Louis, Detroit, and Suffolk County, the story sounds much the same.

I’ve been blogging about the underfunded/overgenerous public-pension problem for a while. But a great resource is PensionTsunami.com, which has been on the story even longer.