Dean Baker on the origins and severity of the so-called crisis with public pensions

Dean Baker has written a new report, “The Origins and Severity of the Public Pension Crisis”.

He finds that the most of the shortfalls in public pension plans were caused by the Wall Street decline between 2007 and 2009, which leads LSW to conclude that the publlic pensions are not too generous as many right wing pols are claiming. The assault on public pensions and the assault on public service unions is not based on the actions of public service unions or by their culpability in government deficits, but rather the desire on the part of right wing pols to decimate public service unions in order to serve their corporate masters (LSW’s words and opinion).

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