Foreign Policy in Focus
The crisis in funding for pensions, both private and public, is a manufactured one. It's rooted in the Enron-style accounting and "something-for-nothing" financial engineering that set off the 2008 financial meltdown. Now that state and local governments are swimming in red ink because of tax cuts and the Wall Street meltdown, unions are caught flat-footed. Their erstwhile allies, after testing today's political winds, now line up to ax their pay and pensions.
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PBS - NewsHour
This evidence suggests that cuts to programs for seniors may be unlikely to end up benefitting our kids. Rather such cuts may be associated with reduced spending on kids as well. If the public does not trust the government to provide good care for seniors, it may also not trust the government to provide good care for children.