is nyc this bad?

> Meanwhile, the city has a $4 billion unfunded health care liability looming that it hasn't saved any money for.

it's really easy to solve, just stop giving health care benefits to current and future retirees. it's the pension the guaranteed benefit, not health care.

Well...well...well: Sent this article to a friend who works as a doctor for NYC. He and spouse will be qualified for lifetime healthcare as soon as he completes five years service (18 months from now). He never had much intention of staying there for a career and is mainly viewing the whole thing as a break from the rigors of private practice which he did for fifteen years.

as i see it, pensions (both public and private) are as unreliable as social security for the young. believing that the benefits will be there decades from now requires accounting illiteracy.

More debts to be inflated away.

"as i see it, pensions (both public and private) are as unreliable as social security for the young."

You can say the same thing for 401(k)s, too.

i prefer mkt risk than a ponzi being right after the baby boomers. sorry, i'm not fan of ponzis.