April 26, 2010

A PUBLIC PENSION SOLUTION? A reader writes:

I had a thought about how to tackle the impending pension tsunami that so many states are facing: Why not invoke “prevailing pension”? I live in Massachusetts and for decades municipalities have been saddled with paying the “prevailing wage” in contracts (i.e. pay union wages, even for non-union work). As we’ve heard recently, the average government pension is a good deal sweeter than the average private sector pension (if it exists at all). So, why not limit the average municipal pension to the average private sector pension?

What do you think?

UPDATE: Reader James Doherty writes: “That’s genius. How about we also institute Prevailing Unemployment? We could randomly fire legislators based on the current unemployment rate. Who wouldn’t want to see 41 Congressmen tossed out of office next week?” One step at a time.

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