Richard Epstein explains how public pensions came to be a ticking time bomb for states and cities throughout the U.S., what the financial ramifications are, and why the road to reform is so perilous.

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Published in: Culture, Domestic Policy

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  1. RufusRJones Member

    The Fed is going to pay for everything. 

    • #1
  2. LibertyDefender Member

    Right out of the box, Professor Epstein makes a massive misstatement, when he states that the vast majority of private pensions are defined benefit pensions.  He continues his explanation correctly with respect to defined contribution programs – using his own TIAA-CREF plan as an example, but the opening misstatement is confusing. 

    • #2